Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A farmer has 500 acres of land and wishes to determine the acreage allocated to the following three crops: wheat, corn, and soybeans. Suppose there

image text in transcribed

A farmer has 500 acres of land and wishes to determine the acreage allocated to the following three crops: wheat, corn, and soybeans. Suppose there are 5,000 man-days available and $60,000 for preparation. The man-days, preparation cost, and profit per acre of the three crops are given below: (a) Determine the linear program, its optimal solution, and the optimal tableau. Solve the linear program by hand, or use a computer to solve the problem and construct the tableau from the optimal solution. (b) Assuming an 8-hour work day, would it be profitable to the farmer to acquire additional help at $3 per hour? Why or why not? (c) Suppose that the farmer has contracted to deliver at least the equivalent of 100 acres of wheat. Use sensitivity analysis to find the new optimal solution. A farmer has 500 acres of land and wishes to determine the acreage allocated to the following three crops: wheat, corn, and soybeans. Suppose there are 5,000 man-days available and $60,000 for preparation. The man-days, preparation cost, and profit per acre of the three crops are given below: (a) Determine the linear program, its optimal solution, and the optimal tableau. Solve the linear program by hand, or use a computer to solve the problem and construct the tableau from the optimal solution. (b) Assuming an 8-hour work day, would it be profitable to the farmer to acquire additional help at $3 per hour? Why or why not? (c) Suppose that the farmer has contracted to deliver at least the equivalent of 100 acres of wheat. Use sensitivity analysis to find the new optimal solution

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

Step: 3

blur-text-image

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

Executive Finance And Strategy

Authors: Ralph Tiffin

1st Edition

0749471506, 978-0749471507

More Books

Students also viewed these Finance questions