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Construct a model with an objective function, decision variables, and constraints. Set it up on Excel Solver with values and run it. Do the
Construct a model with an objective function, decision variables, and constraints. Set it up on Excel Solver with values and run it. Do the results make sense? Tell me why. You run two manufacturing lines for a car company that makes four different models. This is a mix of cars and light trucks. You want to maximize revenue while satisfying demand. The facility has a max limit on annual production with each vehicle having a cost and selling price. In addition to production, the company must comply with fuel consumption standards under various energy policies and national laws. (E.g., the average MPG of your production must be at or below 40 MPG the 2026 standard. Assume that each car model mileage is the same.) Here is your data to use: price cost rev MPG prod time line min demand Corolla Avalon Tundra RAV4 24,000 15,000 9,000 60,000 23,000 37,000 50,000 25,000 25,000 35,000 20,000 15,000 422 hrs 1 300 392 hrs 1 300 353 hrs 2 300 41 2.5 hrs 2 750 total production time line 1 2500 total production time line 2 2300 1. the four models - two cars lower end, two cars higher end a. Each model has a cost and selling price, annual demand, mpg, production time 2. Assume that two lines have specific total hours of operation 3. What is your set up? Show your Excel spreadsheet for Solver 4. What is your result? $$/qty of each vehicle manufactured. Show your Solver report 5. Do you have any slack or surplus?
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