Question
Future Auto company produces three types of automobiles: models 1 , 2 , and 3 . The generated profit, required assembly time, and required material
Future Auto company produces three types of automobiles: models 1 , 2 , and 3 . The generated profit, required assembly time, and required material value for each of the models is represented in the following table. There is a total of 500 assembly hours and $250,000 material value available each month. According to the marketing data model 1 is the most popular model and demand for that is more than the demand of two other models combined. Therefore, it must be produced more than models 2 and 3 combined. What combination of the three models maximizes total profit in each month?
a) Formulate the problem as a linear programming model IN A WORD FILE.
b) Solve the LP using Excel AND GENERATE THE ANSWER REPORT. Note: leave the optimal values fractional in the Excel file. Hint: Optimal objective function value = $61,538.46
c) Bonus question: What is the best integer solution?
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