Question
PLEASE ANSWER THE FOLLOWING QUESTIONS- Please submit your answer to the questions AND submit the Excel file Kelson Sporting Equipment, Inc., makes two types of
PLEASE ANSWER THE FOLLOWING QUESTIONS-
Please submit your answer to the questions AND submit the Excel file
Kelson Sporting Equipment, Inc., makes two types of baseball gloves: a regular model and a catchers model. The firm has 900 hours of production time available in its cutting and sewing department, 300 hours available in its finishing department, and 100 hours available in its packaging and shipping department. The production time requirements and the profit contribution per glove are given in the following table:
Production Time (hours) | ||||
---|---|---|---|---|
Model | Cutting and Sewing | Finishing | Packaging and Shipping | Profit/Glove |
Regular model | 1 | 1/2 | 1/8 | $5 |
Catchers model | 3/2 | 1/3 | 1/4 | $8 |
Assuming that the company is interested in maximizing the total profit contribution, answer the following:
What is the linear programming model for this problem?
Develop a spreadsheet model and find the optimal solution using Excel Solver. How many of each model should Kelson manufacture?
2. The Sea Wharf Restaurant would like to determine the best way to allocate a monthly advertising budget of $1,000 between newspaper advertising and radio advertising. Management decided that at least 25% of the budget must be spent on each type of media and that the amount of money spent on local newspaper advertising must be at least twice the amount spent on radio advertising. A marketing consultant developed an index that measures audience exposure per dollar of advertising on a scale from 0 to 100, with higher values implying greater audience exposure. If the value of the index for local newspaper advertising is 50 and the value of the index for spot radio advertising is 80, how should the restaurant allocate its advertising budget to maximize the value of total audience exposure?
Formulate a linear programming model that can be used to determine how the restaurant should allocate its advertising budget in order to maximize the value of total audience exposure.
Develop a spreadsheet model and solve the problem using Excel Solver.
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