Question: 6-31. For the following problem, Excel Solver must be used , DO NOT use the graphical approach . ALL work must be shown, including formulas

6-31. For the following problem, Excel Solver must be used, DO NOT use the graphical approach. ALL work must be shown, including formulas on an excel worksheet. Please highlight answer in yellow to question.

Consider the following LP problem:

Maximize profit = 5X + 6Y

Subject to 2X + Y < 120

2X + 3Y < 240 X, Y >0

1. What is the optimal solution to this problem? Solve it using excel solver.

2. If a technical breakthrough occurred that raised the profit per unit of X to $8, would this affect the optimal solution?

3. Instead of an increase in the profit coefficient X to $ 8, suppose that profit was overestimated and should only have been $ 3. Does this change the optimal solution?

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