Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 Consider Question 2 again. Suppose that we are given the following excel answer report. State the optimal objective value and the optimal production

Question 3 Consider Question 2 again. Suppose that we are given the following excel answer report. State the optimal objective value and the optimal production by analyzing the answer report. Objective Cell (Max) Cell Name $B$8 objective: profit Variable Cells Cell Name $B$6 x1: corn profit $B$7 x2: tobacco profit Original Value 0 Name Original Value 0 0 Final Value 142800 Constraints Cell $F$10 farm size $F$11 budget $F$12 govenrment restriction Optimal objective: 142800, x1: 320, x2: 90 Final Value Cell Value Integer 320 Contin 90 Contin Formula Status 410$F$10
image text in transcribed
image text in transcribed
Question 3 Consider Question 2 again. Suppose that we are given the following excel answer report: State the optimal objective value and the optimal production by analyzing the answer report The Bradley family owns 410 acres of farmland in North Carolina on which they grow corn and tobacco. Each acre of corn costs $105 to plant, cultivate, and harvest; each acre of tobacco costs $210. The Bradleys have a budget of $52,500 for next year. The government limits the number of acres of tobacco that can be planted to 100 . The profit fiom each acre of corn is $300; the profit from each acre of tobacco is $520. The Bradleys want to know how many acies of each crop to plant in order to maximize their profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Construction Safety Auditing Made Easy A Checklist Approach To OSHA Compliance

Authors: Kathleen Hess

1st Edition

0865876355, 978-0865876354

More Books

Students also viewed these Accounting questions

Question

Prepare and properly label figures and tables for written reports.

Answered: 1 week ago