Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I'm trying to see if I set up this problem correctly based on the data. Please let me know if there are adjustments needing to

I'm trying to see if I set up this problem correctly based on the data. Please let me know if there are adjustments needing to be made.

image text in transcribedimage text in transcribed
Resource Requirements: Metal Materials/unit Plastic Materials/unit Labor hours/unit Waffle Maker 3.1lb .Slb .7 Egg Cooker .15lb .7lb 1 Toaster 2.01b .3lb .5 Resources cost are $3 per pound of metal, $2.90 per pound of plastic and $10.00 per hour for labor. Available resources are 200 pounds of metal, 250 pounds of plastic and 350 hours of labor. Based on the market research, the company expects the maximum demand for waffle makers is 50 and for egg cookers is 75. The company has a contract to supply 25 toasters to a local department store. Waffle makers will be sold for $24.99, egg cookers will be sold for $19.99 and Toasters will sell for $14.99 The company wants to know the optimal products mix that will maximize profit Part A: Write the Linear Programming formulation for this problem to help determine the best production mix of the three appliances that will maximize profit Part B: Set up 8 run the problem in Excel Solver Report the optimal solution and profit result A B C D E F G H I J K L M N O P Q R S Metal Plastic Labor Units Produce 0 0 Cost Objective Fun 24.99 19.99 14.99 0 Constraints LHS RHS Extra Credit Assignment 10 Waffle 3.1 0.5 0.7 Egg Cooker 0 > = 50 0.15 0.7 1 0 >= 75 1) Define variables Toaster 2 0.3 0.5 0 >= 25 X1 = Metal X2 = Plastic = X3 = Labor X1 = Waffle X2 = Egg X3 = Toaster 2) Determine the ONE objective function Maximize: Objective Function =24.99X1 + 19.99X2 + 14.99X3 3) Write your constraints and the equal sign to write them here) 3.1X1 +.5X2 +.7X3 >=50 .15X1 +.7X2 + 1X3 >=75 2.0X1 +.3X2 +.5X3 >=25 4) Indicate the non-negativity statement X1, X2, X3 >=0

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

Introduction to Probability

Authors: Mark Daniel Ward, Ellen Gundlach

1st edition

716771098, 978-1319060893, 1319060897, 978-0716771098

More Books

Students also viewed these Mathematics questions

Question

1. What is the goal of supply-chain management?

Answered: 1 week ago