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PLEASE DO AS SOON AS POSSIBLE IN EXCEL, PLEASE DO NOT FORGET TO PASTE SCREENSHOT OF THE EXCEL. PLEASE DO THE FOLLOWING ABOVE QUESTION ON
PLEASE DO AS SOON AS POSSIBLE IN EXCEL, PLEASE DO NOT FORGET TO PASTE SCREENSHOT OF THE EXCEL.
PLEASE DO THE FOLLOWING ABOVE QUESTION ON EXCEL NEED URGENT HELP ON EXCEL. I DO NOT NEED ANY EXPLANATION. NEED ONLY EXCEL SCREENSHOT SOLVED WITH DATA SOLVER. YOU WILL GET THUMBS DOWN IF YOU DON'T HAVE UPLOADED THE EXCEL SCREENSHOT.
1. The Research and Development Division of the Progressive Company has been developing four possible new product lines. Management must now make a decision as to which of these four products actually will be produced and at what levels. Therefore, an operations research study has been requested to find the most profitable product mix. A substantial cost is associated with beginning the production of any product, as given in the first row of the following table. Management's objective is to find the product mix that maximizes the total profit (total net revenue minus start-up costs). Let the continuous decision variables x1,x2,x3, and x4 be the production levels of products 1,2,3, and 4 , respectively. Management has imposed the following policy constraints on these variables: 1. No more than two of the products can be produced. 2. Either product 3 or 4 can be produced only if either product 1 or 2 is produced. 3. Either 5x1+3x2+6x3+4x46,000 or 4x1+6x2+3x3+5x46,000. a) Develop a Mixed Integer Programming (MIP) model. b) Use Excel solver to solve the problem. Select the GRG Nonlinear engine for Solver Problems that are smooth nonlinear. Select the LP Simplex engine for linear Solver Problems, and select the Evolutionary engine for Solver problems that are non-smooth. 1. The Research and Development Division of the Progressive Company has been developing four possible new product lines. Management must now make a decision as to which of these four products actually will be produced and at what levels. Therefore, an operations research study has been requested to find the most profitable product mix. A substantial cost is associated with beginning the production of any product, as given in the first row of the following table. Management's objective is to find the product mix that maximizes the total profit (total net revenue minus start-up costs). Let the continuous decision variables x1,x2,x3, and x4 be the production levels of products 1,2,3, and 4 , respectively. Management has imposed the following policy constraints on these variables: 1. No more than two of the products can be produced. 2. Either product 3 or 4 can be produced only if either product 1 or 2 is produced. 3. Either 5x1+3x2+6x3+4x46,000 or 4x1+6x2+3x3+5x46,000. a) Develop a Mixed Integer Programming (MIP) model. b) Use Excel solver to solve the problem. Select the GRG Nonlinear engine for Solver Problems that are smooth nonlinear. Select the LP Simplex engine for linear Solver Problems, and select the Evolutionary engine for Solver problems that are non-smoothStep by Step Solution
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