Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need to see how to set this up in excel as a living spreadsheetInstructions: Use the information given below to set up and solve

I need to see how to set this up in excel as a living spreadsheetInstructions: Use the information given below to set up and solve a LP and provide the manager with the relevant information needed to make the optimal decision about how to move forward. You should be prepared to answer a few quiz questions about the initial optimal decision and results. You should also be prepared to change certain assumptions and then solve the problem for a new optimal decision. You will get credit for answering questions via an online quiz.

You want to sell three additional items at your sculpture booth at the Cooper-Young Festival: wool dryer balls, wool scarfs, and wool hats. You crochet these items while watching Amazon Prime, sitting in waiting rooms, and at other idle times as a way to relax and make a little extra money which means over the summer you expect to have 296 hours. You purchased 70 skeins of wool yarn on clearance for $3.00 per skein and one 10 oz. box of roving. A wool dryer ball is a crocheted ball stuffed with wool roving. Each dryer ball uses an ounce of roving which costs $0.75 and requires1/10of a skein of yarn for the ball itself and takes 1.5 hours to make. A scarf requires 2 skeins of yarn and takes 10 hours to make. A hat also requires 2 skeins of yarn and takes 12 hours to make. Based on last year's demand you want to have at least 8 of each of your projects available. You also observed that you sold twice as many scarfs as hats. You are able to sell the Dryer balls for $5.00 each, the Scarfs go for $25 each, and the Hats for $32.00 each. What should you crochet to make the most money?

image text in transcribed LP Project 1 Instructions: Use the information given below to set up and solve a LP and provide the manager with the relevant information needed to make the optimal decision about how to move forward. You should be prepared to answer a few quiz questions about the initial optimal decision and results. You should also be prepared to change certain assumptions and then solve the problem for a new optimal decision. You will get credit for answering questions via an online quiz. You want to sell three additional items at your sculpture booth at the Cooper-Young Festival: wool dryer balls, wool scarfs, and wool hats. You crochet these items while watching Amazon Prime, sitting in waiting rooms, and at other idle times as a way to relax and make a little extra money which means over the summer you expect to have 296 hours. You purchased 70 skeins of wool yarn on clearance for $3.00 per skein and one 10 oz. box of roving. A wool dryer ball is a crocheted ball stuffed with wool roving. Each dryer ball uses 1/2 an ounce of roving which costs $0.75 and requires 1/10 of a skein of yam for the ball itself and takes 1.5 hours to make. A scarf requires 2 skeins of yarn and takes 10 hours to make. A hat also requires 2 skeins of yarn and takes 12 hours to make. Based on last year's demand you want to have at least 8 of each of your projects available. You also observed that you sold twice as many scarfs as hats. You are able to sell the Dryer balls for $5.00 each, the Scarfs go for $25 each, and the Hats for $32.00 each. What should you crochet to make the most money

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_2

Step: 3

blur-text-image_3

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

Recent Developments Of Mathematical Fluid Mechanics

Authors: Herbert Amann, Yoshikazu Giga, Hideo Kozono, Hisashi Okamoto, Masao Yamazaki

1st Edition

3034809395, 9783034809399

More Books

Students also viewed these Mathematics questions

Question

b. Did you suppress any of your anger? Explain.

Answered: 1 week ago