b) What are the objective function coefficient ranges for the three components? Interpret these ranges for company management.

For the objective function coefficient ranges, make an interpretation that goes in both directions. That is, describe what happens if you increase the coefficient by one (1) unit and what happens when you decrease the coefficient by one (1) unit.

c) What are the right-hand side ranges? Interpret these ranges for company management.

For the right-hand side (RHS) ranges, make an interpretation that goes in both directions. That is, describe what happens if you increase the RHS by one (1) unit and what happens when decrease the RHS by one (1) unit.

d) If more time could be made available on the grinder, how much would it be worth? Clearly indicate which portion of the computer output to isolate to answer this question. That is, the computer solution must be used to support your claim.

Mathematical formulation for this problem

1. Decision variable-
2. You must decide what the quantity of the product.
3. Let x1=units of component 1
4. x2=units of component 2
5. x3=units of component 3
7. Objective Function- The profit contribution for component 1, 2, and 3 are $8, $6, $9 respectively. Find the optimum value of x1, x2, and x3.
8. Maximize z= 8x1+6x2+9x3
10. Model Constraints

- 6x1+4x2+4x3<=7200

- 4x1+5x2+2x3<=6600

- x1<=1000

- x1>=600

- x2<=1000

- x3<=200

Component 1 can sell 1000 unit and 600 unit have already been sold. The company must product more than 600 unit but less than 1000 units from component 1.

1. Non-negativity statement
2. The value is set to be = or > 0
3. x1, x2, x3>=0