Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. The Outdoor Furniture Corporation manufactures two products, benches and picnic tables, for use in yards and parks. The firm has two main resources: labor

image text in transcribed
image text in transcribed
5. The Outdoor Furniture Corporation manufactures two products, benches and picnic tables, for use in yards and parks. The firm has two main resources: labor and redwood. A linear program has been formulated to solve the problem of how many benches (defined as x ) and how many picnic tables (defined as x2) to produce in the next production cycle so as to obtain the largest possible profit. The printout below shows the optimal solution and sensitivity reports for this LP obtained from Excel/Solver. Microsoft Excel Answer Report Target Cell (Max) Cell Name Original Value Final Value 3057 Total Profit Adjustable Call Call Name Original Value Final Value SASS 255 SCSS Constraines Cell Name Cell Value Formula Status SD$10 Labor Used (hours) 1200 SD$10 5F510 Binding 50511 Redwood Used (feet 3600 50511 51511 Microsoft Excel Sensitivity Report Adjustable Calh Redared Cell Increme SBSS 255 4333334333 3.285714285 11.5 Conteraines Final Shadow Constraint Howable Cell Name Price RH Sde SD510 Labor Used (hours) 1200 1.4375 1700 240 582 8571429 50511 Redwood Used (fee 3600 0.335 1400 Use the information from these printouts to answer questions below. Be sure to explain/justify your answers to receive full credit a Howmanybencheandhowmanypicnicableshouldeproducetbmaximizerofit Whats the maximum profit? Explain/justify your response. Note: Considethechangeindicateih partsh, andc independently. b Supposehatit is possibleo increaseheamounof laboravailabley 100hoursBy howmuch wouldhisincreasehetotaprofit Explainjustifyourresponse If theprofifora benchincreases $1 1 perunitwhatwilltheoptimalaluefx andx be What willtheobjectiveunctionalube Explainjustifyouresponse

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Symbolic Logic

Authors: William Gustason, Dolph E Ulrich

2nd Edition

1478616857, 9781478616856

More Books

Students also viewed these Mathematics questions