KINDLY USE THE DATA PROVIDED ABOVE TO SOLVE Q7&8 (PLEASE SHOW ME STEP BY STEP SO I CAN UNDERSTAND HOW TO DO IT NEXT TIME)

7. What is the new cost if you add 2 units wood and add 2 units of fiber?

8. Given that the supplier charges $2 less for each unit of wood and $1 less for each unit of fiber from their respective current prices. In this case, what is the new cost if 2 units of wood and 2 units of fiber are added to the current stocks?

D E F H K M N R Q1 X1 (tables) X2 (chairs) X3 (TV-stands) 0 11.5 4 Question number 2 40 20 15 7 2 Min Wood Fiber Min chairs Exact Tvstand 3 4 290 42.5 >= 50 >= 11.5 >= 35 50 2. 1 1 2 1 4= 4 Using excel solver, solve the following LP problem. X1=number of tables to be made x2= number of chairs to be made X3= number of TV-stands to be made Min cost (Z) = 40 x1 + 20 x2 + 15 x3 Subject to 7x1 + 3x2 + 2x3 > 35 Min wood 2x1 + 4x2 + 1x3 > 50 Min fiber X2 > 2 Min demand chairs x3 = 4 Exact TV stands X1, X2, X3 > 0 (Non-negativity constraint) Q3) Variable Cells Cell $B$3 $C$3 $D$3 Name X1 (tables) X2 (chairs) X3 (TV-stands) Final Reduced Objective Allowable Allowable Value Cost Coefficient Increase Decrease 0 30 40 1E+30 30 11.5 0 20 60 20 4 0 15 1E+30 1E+30 Constraints Cell $E$5 $E$6 $E$7 $E$8 Name Wood Fiber Min chairs Exact Tvstand Final Shadow Constraint Allowable Allowable Value Price R.H. Side Increase Decrease 42.5 0 35 7.5 1E+30 50 5 50 1E+30 10 11.5 0 2 9.5 1E+30 4 10 4 38 Q2 Objective Cell (Min) Cell $E$4 Min Name Original Value Final Value 0 290 Variable Cells Cell Name $B$3 X1 (tables) $C$3 X2 (chairs) $D$3 X3 (TV-stands) Original Value Final Value Integer 0 O Contin 0 11.5 Contin 0 4 Contin Constraints Cell $E$5 $E$6 $E$7 $E$8 Name Wood Fiber Min chairs Exact Tvstand Cell Value Formula Status Slack 42.5 $E$5>=$G$5 Not Binding 7.5 50 $E$6>=$G$6 Binding 0 11.5 $E$7>=$G$7 Not Binding 9.5 4 $E$8=$G$8 Binding 0 D E F H K M N R Q1 X1 (tables) X2 (chairs) X3 (TV-stands) 0 11.5 4 Question number 2 40 20 15 7 2 Min Wood Fiber Min chairs Exact Tvstand 3 4 290 42.5 >= 50 >= 11.5 >= 35 50 2. 1 1 2 1 4= 4 Using excel solver, solve the following LP problem. X1=number of tables to be made x2= number of chairs to be made X3= number of TV-stands to be made Min cost (Z) = 40 x1 + 20 x2 + 15 x3 Subject to 7x1 + 3x2 + 2x3 > 35 Min wood 2x1 + 4x2 + 1x3 > 50 Min fiber X2 > 2 Min demand chairs x3 = 4 Exact TV stands X1, X2, X3 > 0 (Non-negativity constraint) Q3) Variable Cells Cell $B$3 $C$3 $D$3 Name X1 (tables) X2 (chairs) X3 (TV-stands) Final Reduced Objective Allowable Allowable Value Cost Coefficient Increase Decrease 0 30 40 1E+30 30 11.5 0 20 60 20 4 0 15 1E+30 1E+30 Constraints Cell $E$5 $E$6 $E$7 $E$8 Name Wood Fiber Min chairs Exact Tvstand Final Shadow Constraint Allowable Allowable Value Price R.H. Side Increase Decrease 42.5 0 35 7.5 1E+30 50 5 50 1E+30 10 11.5 0 2 9.5 1E+30 4 10 4 38 Q2 Objective Cell (Min) Cell $E$4 Min Name Original Value Final Value 0 290 Variable Cells Cell Name $B$3 X1 (tables) $C$3 X2 (chairs) $D$3 X3 (TV-stands) Original Value Final Value Integer 0 O Contin 0 11.5 Contin 0 4 Contin Constraints Cell $E$5 $E$6 $E$7 $E$8 Name Wood Fiber Min chairs Exact Tvstand Cell Value Formula Status Slack 42.5 $E$5>=$G$5 Not Binding 7.5 50 $E$6>=$G$6 Binding 0 11.5 $E$7>=$G$7 Not Binding 9.5 4 $E$8=$G$8 Binding 0