Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PART III-BUSINESS PROBLEM SOLVING USING EXCEL (40 POINTS) A manufacturer produces three different products at their plan (Dress shoe, Jacket, and Hand shoe). Production of
PART III-BUSINESS PROBLEM SOLVING USING EXCEL (40 POINTS) A manufacturer produces three different products at their plan (Dress shoe, Jacket, and Hand shoe). Production of each product requires three different kinds of resources. The per-unit profit, per-unit raw leather usage, per-unit labor usage, per-unit machine time usage, and minimal monthly demand are given in the following table: A B D 1 Product Dress shoe Jacket Hand shoe 2 Units made 3 Profit/ unit 14,00 20,00 4,00 4 Leather/ unit (m2) 0,09 1,50 0,04 5 Labor usage unit (hour) 1,80 2,00 1,500 6 Machine time usage unit (hour) 0,30 0,80 0,25 7 Minimal monthly demand (unit) 300 25 1500 This month, 1400 m2 of leather, 3000 hours of labor and 1000 hours of machine time are available. How can this manufacturer maximize its monthly profit? Question 23: (20 Points) Specify an actual DSS (using IPO model) that helps solve the given optimization problem. Question 24: (20 Points) Has solver found an integer solution? If yes, what is the optimal product mix? Could solver find any feasible solution, if 1400 m2 of leather, 3000 hours of labor, and only 300 hours of machine time are available. If not, explain why
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started