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Show the problem formulation with variables identified, objective function and constraints listed in the form of equations ( like the class examples ) . 2
Show the problem formulation with variables identified, objective
function and constraints listed in the form of equations like the class
examples points.
Show the completed excel model for the linear programing like the
class examples points.
Show the complete linear programming answer report generated from
excel solver, showing the output of the objective function, variables
and constraints like the class examples points.
Question Maximization problem
A tire manufacturer produces two sizes of tire for a popular car in the
market. The car company has agreed to buy the tires for next months.
The tire manufacturer now has tasked their operations manager to
identify the number of tires to produce for each size to achieve
maximum revenue. When sold to the car company, tire R sells for
dollars a piece and tire R sells for dollars a piece.
The tire manufacturer has a labor hours capacity of hours and
budget for raw material limited to $
Tire R utilizes hours of labor and $ of material cost per piece
whereas, tire R utilizes hours of labor and $ of material cost
per piece.
Formulate a LP model and solve in excel solver to calculate the optimal
quantities of each type leading to maximizing the revenue and satisfying
all constraints.
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