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Problem 2: Consider the following linear programming problem. Min 5X+3Y s.t. X+Y103X+4Y603X+2Y5X0Y0 a) Graph the feasible region. b) Superimpose on the graph of part (a)
Problem 2: Consider the following linear programming problem. Min 5X+3Y s.t. X+Y103X+4Y603X+2Y5X0Y0 a) Graph the feasible region. b) Superimpose on the graph of part (a) contours of the objective function representing values of 24,36,48, and 60 c) Find the optimal solution. a. What is the optimal objective function value b. What are the optimal values of X and Y ? c. Which constraints are binding? d. Which constraints are not binding? d) If you did this problem correctly, you should get integer values for X and Y. Do you expect this to be true in all cases (for example if you change the right-hand side of one of the constraints by a small amount, like 1)? Briefly justify your answer. Problem 2: Consider the following linear programming problem. Min 5X+3Y s.t. X+Y103X+4Y603X+2Y5X0Y0 a) Graph the feasible region. b) Superimpose on the graph of part (a) contours of the objective function representing values of 24,36,48, and 60 c) Find the optimal solution. a. What is the optimal objective function value b. What are the optimal values of X and Y ? c. Which constraints are binding? d. Which constraints are not binding? d) If you did this problem correctly, you should get integer values for X and Y. Do you expect this to be true in all cases (for example if you change the right-hand side of one of the constraints by a small amount, like 1)? Briefly justify your
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