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Can you help me figure out this question? I heard MS EXCEL Solver feature helps. View Help Comments File Home Insert Page Layout Formulas Data

Can you help me figure out this question? I heard MS EXCEL Solver feature helps.

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View Help Comments File Home Insert Page Layout Formulas Data Review JMP IS Share X Cut AutoSum Calibri v 12 AA = = = ab Wrap Text General AY O Fill Sort & Find & Analyze Paste I Copy Merge & Center $ ~ % " Conditional Format as Cell Insert Delete Format Format Painter Formatting * Table Styles Clear v Filter * Select Data Font Number Cells Analysis Clipboard Alignment Styles Editing J22 X V fix A B D E F G H K M N O P Bangs Leisure Chairs (a one man operation) produces three types of handcrafted outdoor chairs popular for beach, pool, and patios: Sling chairs, Adirondack chairs, and Hammocks. The unit profit for these products is $40, $125, and $90, respectively. Each type of chair requires cutting, assembling, and finishing. The owner is retired and is available to work only 125 hours each month. He does not want to spend more than 20 hours each month on cutting, but can spend uo to 60 hours on either of the other two activities (assembling, and finishing). The retailer he works with is certain that all products he makes can easily be sold. 10 00 The time required for each process for each chair type is given below. 10 1) How many of each type of chair should he produce each month to maximize profit? 2) Identify the decision variables, objective function, and constraints in the usual Model Formulation structure and use Excel to help you solve the optimizeion problem. 13 3) Identify any binding contraints and explain the implication (of binding). 14 4) A neighbor with finishing skills has offered to help out for five hours each week, but is only willing to do finishing. She would need to be paid $25 / 15 hour. Should she be hired (use the shadow price to explain)? 16 17 18 19 20 21 Sling Adiron Hamm 22 Cutting 1/2 hour 1.25 hours 4/10 hour 23 Assembly 1/2 hour 1.5 hours 2.4 hours 24 Finishing 0.75 hour 1 hour 1.5 hour 25 26 27 Q 20 Sheet1 +

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