Max PROFIT 4X+5Y SUBJECT TO

X+2Y

X, Y>=0 [NONNEGATIVITY]

1. Find the optimal values of X and Y that maximizes profit using graphical method.
2. If you had done the problem using Excel, it would have produced the following sensitivity report
3. (this is just part of the report that is needed to answer) -

Variable Cells

Objective Coefficient

Allowable increase

Allowable Decrease

X

4

1

1.50

Y

5

3

1

Constraints

Shadow Price

Allowable increase

Allowable Decrease

Labor

1

2

2

Material

0.5

4

6

Storage

0

infinity

8

2.

1. (i)What is the new value of profit if you acquire 2 additional pounds of material?
2. (ii)What is the new value of profit if you acquire 1.5 additional labor hours?
3. (iii)What is the new value of profit if you acquire 1 additional labor hour, and 1 additional
4. pound of material?
5. (iv)If the coefficient of X in the objective function increases by 1.1, which corner point is the

new solution according to your graph?

Max PROFIT 4X+5Y SUBJECT TO X+2Y=0 [NONNEGATIVITY] a. Find the optimal values of X and Y that maximizes profit using graphical method. b. If you had done the problem using Excel, it would have produced the following sensitivity report (this is just part of the report that is needed to answer) - Variable Cells Objective Coefficient Allowable increase Allowable Decrease X 4 1 1.50 Y 5 3 1 Constraints Shadow Price Allowable increase Allowable Decrease Labor 1 2 Material 0.5 4 6 Storage 0 infinity 8 (1) What is the new value of profit if you acquire 2 additional pounds of material? (11) What is the new value of profit if you acquire 1.5 additional labor hours? What is the new value of profit if you acquire 1 additional labor hour, and 1 additional pound of material? (iv) If the coefficient of X in the objective function increases by 1.1, which corner point is the new solution according to your graph