please help me do this question and paste the excel formula. Thank you!
Ticket prices, which are largely determined by external influences .e competitors), have been set and advertised as follows: Fare Type Ithaca-Newark Newark-Boston Ithaca-Boston $300 $220 $100 $160 $130 $80 $360 $280 $140 Based on past experience, demand forecasters at Ivy Air have determined the following up- per bounds on the number of potential customers in each of the 9 possible origin-destination/fare- class combinations: Fare Type Ithaca-Newark Newark-Bost Ithaca-Boston $4 S8 $22 S8 $13 $20 $3 $10 $18 The goal is to decide how many tickets from each of the 9 origin/destination/fare-class combinations to sell. The constraints are that the place cannot be overbooked on either the two legs of the flight and that the number of tickets made available cannot exceed the forecasted maximum demand. The objective is to maximize the revenue (a) (10 points) Formulate this problem as a linear programming proble e., assume that fractions (b) (10 points) Design a Spreadsheet that will allow you to solve the problem using EXCEL Solver (c) (3 points) Can the solution you obtained above be implemented? If not, what would you suggest of tickets could be sold) Produce a print-out of your Spreadsheet showing the problem solution should be the implemented solution, and how much will the profit of this solution change compared to the original profit? Ticket prices, which are largely determined by external influences .e competitors), have been set and advertised as follows: Fare Type Ithaca-Newark Newark-Boston Ithaca-Boston $300 $220 $100 $160 $130 $80 $360 $280 $140 Based on past experience, demand forecasters at Ivy Air have determined the following up- per bounds on the number of potential customers in each of the 9 possible origin-destination/fare- class combinations: Fare Type Ithaca-Newark Newark-Bost Ithaca-Boston $4 S8 $22 S8 $13 $20 $3 $10 $18 The goal is to decide how many tickets from each of the 9 origin/destination/fare-class combinations to sell. The constraints are that the place cannot be overbooked on either the two legs of the flight and that the number of tickets made available cannot exceed the forecasted maximum demand. The objective is to maximize the revenue (a) (10 points) Formulate this problem as a linear programming proble e., assume that fractions (b) (10 points) Design a Spreadsheet that will allow you to solve the problem using EXCEL Solver (c) (3 points) Can the solution you obtained above be implemented? If not, what would you suggest of tickets could be sold) Produce a print-out of your Spreadsheet showing the problem solution should be the implemented solution, and how much will the profit of this solution change compared to the original profit
