Example is based on Taylor (1999), Chapter 2. Assume you own a furniture company that produces two different types of wood products: x1 chair and x2 stool, and want to figure out how many of each unit we should produce to maximize our profit over the next day (assume our production cycle is one day). The two products have the following resource requirements per item Each chair yields a profit of $40 and each stool yields a profit of $50 There are 40 total hours of labor available per day. Each chair requires 1 hours of labor and each stool requires 2 hours of labor for production There are 80 board feet of wood available for production each day. Each chair requires 4 ft. of wood and each stool requires 3 ft. of wood for production . There are 60 gallons of polyurethane clear coat available to coat chairs and stools after they are made. Each chair requires 3 gallons and each stool requires 2 gallons Assume for contractual reasons, you must produce at least 10 stools a day. Write out both the typical (with inequalities) and the standard form (only equalities) of the problem On the back, solve this problem graphically Graph all constraints . Identify all extreme points Find optimal solution

Using MS Excel set up and solve

the problem Generate both the answer report and sensitivity report

Please show me the works and make an excel.

Example is based on Taylor (1999), Chapter 2. Assume you own a furniture company that produces two different types of wood products: x1 chair and x2 stool, and want to figure out how many of each unit we should produce to maximize our profit over the next day (assume our production cycle is one day). The two products have the following resource requirements per item Each chair yields a profit of $40 and each stool yields a profit of $50 There are 40 total hours of labor available per day. Each chair requires 1 hours of labor and each stool requires 2 hours of labor for production There are 80 board feet of wood available for production each day. Each chair requires 4 ft. of wood and each stool requires 3 ft. of wood for production . There are 60 gallons of polyurethane clear coat available to coat chairs and stools after they are made. Each chair requires 3 gallons and each stool requires 2 gallons Assume for contractual reasons, you must produce at least 10 stools a day. Write out both the typical (with inequalities) and the standard form (only equalities) of the problem On the back, solve this problem graphically Graph all constraints . Identify all extreme points Find optimal solution Example is based on Taylor (1999), Chapter 2. Assume you own a furniture company that produces two different types of wood products: x1 chair and x2 stool, and want to figure out how many of each unit we should produce to maximize our profit over the next day (assume our production cycle is one day). The two products have the following resource requirements per item Each chair yields a profit of $40 and each stool yields a profit of $50 There are 40 total hours of labor available per day. Each chair requires 1 hours of labor and each stool requires 2 hours of labor for production There are 80 board feet of wood available for production each day. Each chair requires 4 ft. of wood and each stool requires 3 ft. of wood for production . There are 60 gallons of polyurethane clear coat available to coat chairs and stools after they are made. Each chair requires 3 gallons and each stool requires 2 gallons Assume for contractual reasons, you must produce at least 10 stools a day. Write out both the typical (with inequalities) and the standard form (only equalities) of the problem On the back, solve this problem graphically Graph all constraints . Identify all extreme points Find optimal solution