MGT730 - Linear Programming Homework LP.2 Q1. The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability. Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of Products 1 and 2. Please determine the decision variables, objective function, and constraints. Next, produce the output with Solver. Finally, upload the Excel file and answer the following questions. 1. What is the objective function? 2. What is the value of the total profit contribution or objective function value? 3. What is the optimal solution? 4. Which constraints are binding? 5. How many Reduced Cost that we can apply for in the optimal solution? 6. What is/are the slack for the constraint(s)? 7. What is the allowable range for coefficient x1 or x2 ? 8. What is the dual value or shadow price for the constraint(s)? 9. How much profits will be increased for each additional constraint(s)? 10. Determine the range of right-hand-side values with allowable increase/decrease which the dual value or shadow price would be valid for the constraints (Range of feasibility)? MGT730 - Linear Programming Homework LP.2 Q1. The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability. Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of Products 1 and 2. Please determine the decision variables, objective function, and constraints. Next, produce the output with Solver. Finally, upload the Excel file and answer the following questions. 1. What is the objective function? 2. What is the value of the total profit contribution or objective function value? 3. What is the optimal solution? 4. Which constraints are binding? 5. How many Reduced Cost that we can apply for in the optimal solution? 6. What is/are the slack for the constraint(s)? 7. What is the allowable range for coefficient x1 or x2 ? 8. What is the dual value or shadow price for the constraint(s)? 9. How much profits will be increased for each additional constraint(s)? 10. Determine the range of right-hand-side values with allowable increase/decrease which the dual value or shadow price would be valid for the constraints (Range of feasibility)