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Linear programming questions, please use Excel to solve them. Thank you! 5. Barney's River Boats is planning to construct three types of pleasure craft, General,
Linear programming questions, please use Excel to solve them. Thank you!
5. Barney's River Boats is planning to construct three types of pleasure craft, General, Speedy, and Elite, for the next boating season. The estimated profit on each type of boat is $10,000, $11,000, and $9,000 respectively. There are four major processing steps for the manufacture of the boats, each taking different amounts of time, and the company has a given number of hours available for each task, as shown in the table: Time (hrs) Preparation Assembly Painting Finishing General 7/10 1/2 1 1/10 Speedy 1/2 3/4 1/4 Elite 1 5/6 2/3 1/4 Available 630 600 710 150 1 Questions: Justify your answers with reference to the reports. (a) Set up a linear programming model to determine how many of each type of boat to produce to maximize profit. (b) If 10 extra hours can be added to any of the four processing steps, which one would you recommend? (c) What would happen if the profit margin of the General pleasure craft increased from $10,000 to $15,000? (d) In the optimal solution, the company does not make any Elite boats; however, there is a demand for such boats. What would you suggest to do to make it worthwhile to start producing Elite pleasure craft? 5. Barney's River Boats is planning to construct three types of pleasure craft, General, Speedy, and Elite, for the next boating season. The estimated profit on each type of boat is $10,000, $11,000, and $9,000 respectively. There are four major processing steps for the manufacture of the boats, each taking different amounts of time, and the company has a given number of hours available for each task, as shown in the table: Time (hrs) Preparation Assembly Painting Finishing General 7/10 1/2 1 1/10 Speedy 1/2 3/4 1/4 Elite 1 5/6 2/3 1/4 Available 630 600 710 150 1 Questions: Justify your answers with reference to the reports. (a) Set up a linear programming model to determine how many of each type of boat to produce to maximize profit. (b) If 10 extra hours can be added to any of the four processing steps, which one would you recommend? (c) What would happen if the profit margin of the General pleasure craft increased from $10,000 to $15,000? (d) In the optimal solution, the company does not make any Elite boats; however, there is a demand for such boats. What would you suggest to do to make it worthwhile to start producing Elite pleasure craftStep by Step Solution
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