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I'm having trouble calculating the maximum profit in Excel with the following problem: Currently, my spreadsheet looks like this: Yet, it only seems to be
I'm having trouble calculating the maximum profit in Excel with the following problem:
Currently, my spreadsheet looks like this:
Yet, it only seems to be calculating the minimum number of ties and no profit. Can anyone help?
Product Mix: Acme Industries produces four types of men's ties using three types of material. Your job is to determine how many of each type of tie to make each month. I he goal is to maximize protit, profit per te = selling price - labor cost - material cost. Labor cost is $0.75 per tie for all four types of ties. The material requirements and costs are given below. Yards available Material Silk Polyester Cotton Cost per yard $20 $6 $9 er month 1,000 2,000 1,250 ype of Tie Product Information SilksPoly p Blend1 - Blend2EC elling Price per tie nthly Minimum units Monthly Maximum units 7,000 14,000 16,000 8,500 Type of Tie Material Information in ards Silk PolyesterBlend 1 Blend 2 (50/50)(30/70) Silk 0.125 Polyester 0.08 0.05 0.03 Cotton 0.05 0.07 Formulate the problem as a linear program with an objective function and all constraints. Determine the optimal solution for the linear program using any software you want. Include a copy of the code and output. What are the optimal numbers of ties of each type to maximize profitStep by Step Solution
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