Question
Iron Works, Inc. manufactures two products made from steel and receives 2000 pounds of steel each month. It takes 2 pounds of steel to make
Iron Works, Inc. manufactures two products made from steel and receives 2000 pounds of steel each month. It takes 2 pounds of steel to make a unit of product 1, and it takes 3 pounds of steel to make a unit of product 2. The unit profits for product 1 and product 2 are $100 and $200, respectively. Each month the manufacturer has a contract calling for at least 60 units of product 1. At most 720 units of product 2 may be produced by the firm's facilities. Using the steps for optimization modeling based on chapter 4 of the data smart text, find the monthly production quantities of product 1 and product 2 to maximize profit from these products.
Submit the solution as an excel file with multiple relevant sheets.
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