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8.9. The management of the Albert Hanson Company is trying to determine product mix for two new products. Because these products would share the production
8.9. The management of the Albert Hanson Company is trying to determine product mix for two new products. Because these products would share the production facilities, the total number of units produced of the two products cannot exceed two per hour. Because of uncertainty about how well these pr the profit from producing each product provides decreasing marginal return production rate is increased. In particular, with a production rate of R, unit estimated that Product 1 would provide a profit per hour of $200R, - $100R production rate of product 2 is Re units per hour, its estimated profit per ho $300R2 - $100-2- a. Formulate a quadratic programming model in algebraic form for determ product mix that maximizes the total profit per hour. RI = the production rate of product 1 per hour Rz = the production rate of pro Maximize Profit = $200R, - $100R 2 + $300R2 - $100R-2 subject to R, + R, $ 2 and R, 2 0, R, 2 0 b. Formulate this model on a spreadsheet. d. Solve the model using the appropriate solving method
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