Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Eingiate the fiviomint Fuaver Hocks.alck. che mal wut cyocteal rowit. the constranses wo masimiec the perafit. She also abks you to kecp the conssetant to

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Eingiate the fiviomint Fuaver Hocks.alck. che mal wut cyocteal rowit. the constranses wo masimiec the perafit. She also abks you to kecp the conssetant to purchac more sets than kits and to purchase at least half as many Ponver Blokk at leavt 7250 cotal itcons. Bpodafe jour constrant bale and ehe Sodver model with your changes, and then fun \$oluc again. If eccisary, atpus your constraints untel you find a feasible. solution. Suc yoit Huluer inoded ar a wemario nathed Purchase Plan 2. 9. Mroduce. an ansuce report of yorat final shution. Whe the ansver rigort bo fowmmenal any aditioinal changes that intight maximize the total profit IMace your Complete the following: 1. Ppen the Poweratex workbook from the Chapter 9 folder, and then save the file at Power Blocks.xisk. 2. Write the formulas that calculate the gross revenue (number purchased multiplicd by the retail price), the total unit cost (unit cost multiplied by the number purchared , the twtal storage cost (storage cost per unit multiptied by the number parchascat), the total cost (total unit cost plus total storage cost), and the profit fgross revemue minus. the fotal cose ). 3. Finter a mathematical formula in the objcctive cell, and then check that formular entered in Step 2 link the objective cell with the variable cells. Add sample values to the variable cells to ensure that your worksheer is set up correctly and produces the expected results. 4. Create a constraints table in the worksheet that identifics the constraints in this problem. 5. Use Solver to deternine the best way to purchase the Power Blocks sets and kits, and maximize the profit. 6. Produce a Feasibility Report to troubleshoot the solution to determine how the cost and quantity constraints caused the solution to be infcasible. TROUBLESHOOTING: In order to complete this step to produce a Feasibibity Report, you must run the Solver model again without the integer constraints. 7. Save your Solver model as a scenario named Purchase Plan 1 . 8. Betty tells you that she cannot increase the avallable budget and asks you to change the constraints to maximize the profit. She also asks you to keep the constraint to purchase more sets than kits and to purchase at least half as many Power Block Outdoor sers as Power Blocks Urban Adventure sets, She also wants you to purchase at least 7,250 total ircms. Update your constraints table and the Solver model with your changes, and then run Solver again. If necessary, adjust your constraints until you find a feasible solution. Save your Solver model as a scenario named Purchase Plan 2. 9. Produce an answer report of your final solution. Use the answer report to recommend any additiomal changes that might maximize the total profit. Place your recommendations in a text box on the answer report worksheet. 10. Save and close the Power.Blocks,xisx workbook. b4 xfx nwer Mincie Purthasisp Plan Eingiate the fiviomint Fuaver Hocks.alck. che mal wut cyocteal rowit. the constranses wo masimiec the perafit. She also abks you to kecp the conssetant to purchac more sets than kits and to purchase at least half as many Ponver Blokk at leavt 7250 cotal itcons. Bpodafe jour constrant bale and ehe Sodver model with your changes, and then fun \$oluc again. If eccisary, atpus your constraints untel you find a feasible. solution. Suc yoit Huluer inoded ar a wemario nathed Purchase Plan 2. 9. Mroduce. an ansuce report of yorat final shution. Whe the ansver rigort bo fowmmenal any aditioinal changes that intight maximize the total profit IMace your Complete the following: 1. Ppen the Poweratex workbook from the Chapter 9 folder, and then save the file at Power Blocks.xisk. 2. Write the formulas that calculate the gross revenue (number purchased multiplicd by the retail price), the total unit cost (unit cost multiplied by the number purchared , the twtal storage cost (storage cost per unit multiptied by the number parchascat), the total cost (total unit cost plus total storage cost), and the profit fgross revemue minus. the fotal cose ). 3. Finter a mathematical formula in the objcctive cell, and then check that formular entered in Step 2 link the objective cell with the variable cells. Add sample values to the variable cells to ensure that your worksheer is set up correctly and produces the expected results. 4. Create a constraints table in the worksheet that identifics the constraints in this problem. 5. Use Solver to deternine the best way to purchase the Power Blocks sets and kits, and maximize the profit. 6. Produce a Feasibility Report to troubleshoot the solution to determine how the cost and quantity constraints caused the solution to be infcasible. TROUBLESHOOTING: In order to complete this step to produce a Feasibibity Report, you must run the Solver model again without the integer constraints. 7. Save your Solver model as a scenario named Purchase Plan 1 . 8. Betty tells you that she cannot increase the avallable budget and asks you to change the constraints to maximize the profit. She also asks you to keep the constraint to purchase more sets than kits and to purchase at least half as many Power Block Outdoor sers as Power Blocks Urban Adventure sets, She also wants you to purchase at least 7,250 total ircms. Update your constraints table and the Solver model with your changes, and then run Solver again. If necessary, adjust your constraints until you find a feasible solution. Save your Solver model as a scenario named Purchase Plan 2. 9. Produce an answer report of your final solution. Use the answer report to recommend any additiomal changes that might maximize the total profit. Place your recommendations in a text box on the answer report worksheet. 10. Save and close the Power.Blocks,xisx workbook. b4 xfx nwer Mincie Purthasisp Plan

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

Financial Markets And Institutions A Modern Perspective

Authors: Anthony Saunders, Marcia Millon Cornett, Marcia Cornett

2nd Edition

007294109X, 978-0072941098

More Books

Students also viewed these Finance questions

Question

What are the outcomes the client wants?

Answered: 1 week ago

Question

What has been done before?

Answered: 1 week ago