Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes

A furniture company manufactures desks and chairs. Each desk uses four units of wood, and each chair uses three units of wood. A desk contributes $400 to profit, a chair contributes $250. Marketing restrictions require that the number of chairs produced be at least twice the number of desks produced. There are 2000 units of wood available. Maximize the profit from manufacturing. Set up the algebraic model. Include the three components: (decision variables, objective function and constraints) What are the decision variables, what is the objective function, and what are the constraints? Write up your algebraic model. (see power point presentation examples for format) You can type <= to stand for less or equal than and >= to stand for greater or equal than is like this ? What are the decision variables . X= for desk, Y= Chair what is the objective function profit: 400X + 250 y and what are the constraints? 4x+3y QUESTION 2 Solve the algebraic model in SOLVER. How many chairs should be produced? QUESTION 3 How many desks should be produced?

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

Frank Woods Business Accounting Volume 1

Authors: Alan Sangster, Frank Wood

13th Edition

1292084669, 9781292084664

More Books

Students also viewed these Accounting questions

Question

=5/ Can an LBO be carried out on a start-up company?

Answered: 1 week ago

Question

Describe the team dynamics at Facebook.

Answered: 1 week ago