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3) Consider the following problem. MaxZ=2x1+5x2subjecttox1+2x210(resource1)x1+3x212(resource2)x10,x20 where Z measures the profit in dollars form the two activities. While doing sensitivity analysis, you learn that the

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3) Consider the following problem. MaxZ=2x1+5x2subjecttox1+2x210(resource1)x1+3x212(resource2)x10,x20 where Z measures the profit in dollars form the two activities. While doing sensitivity analysis, you learn that the estimates of the unit profits are accurate only to withing 50 percent. In other words, the ranger of likely values for these unit profits are $1 to $3 for activity 1 and 2.50$ to 7.50$ for activity 2 . a. Formulate a spreadsheet model for this problem based on the original estimates of the unit profits. Then use the Solver to find an optimal solution and to generate the sensitivity report. b. Use the spreadsheet and Solver to check whether this optimal solution remains optimal if the unit profit for activity 1 changers from $2 to $1. From $2 to $3. c. Also check whether the optimal solution remains optima if the unit profit for activity 1 still is $2 but the unit profit for activity 2 changes from $5 to $2.50. From $5 to $7.50. d. Use the Solver Table to systematically generate the optimal solution and total profit as the profit of activity 1 increases in 0.20$ increments from $1 to $3 (without changing the unit profit of activity 2 ). Then do the same as the unit profit of activity 2 increases in 0.50$ increments from $2.50 to $7.50 (without changing the unit profit of activity 1). Use these results to estimate the allowable range to stay optimal for the unit profit of each activity. e. Solve it in LINGO and evaluate allowable ranges to stay optimal for the unit profit for each activity

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