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To be done on Excel Requirements on Each Question: - In a textbox on each sheet, explicitly provide the following aspects of the problem in
To be done on Excel
Requirements on Each Question: - In a textbox on each sheet, explicitly provide the following aspects of the problem in business terms: Goal/objective Decisions to be made - Operational constraints - Solve the problem using Solver in Excel - In the same textbox on each sheet, clearly state the problem solution (relating back to the prompt), including: Optimal value of each decision variable - Value of the objective function - Identification of the binding constraints - At least one way to improve the objective Prompts 1. (32 pts) Jones Distributors packages and distributes industrial supplies. A standard shipment can be packaged using a mix of dry storage, refrigerated, and insulated containers. A shipment in a single dry storage container yields a profit of $1,250; in a single refrigerated container, a profit of $12,000; and in a single insulated container, a profit of $5,000. Each container requires a certain amount of packing material as well as packing time, as shown below. Mac Jones, head of the firm, must decide the optimal number of each class of container to use for his weekly shipment. Each week, his supplier can supply him with 350 pounds of packing materials; additionally, each of his six full-time packers provides 40 hours of labor. Finally, Mac has 25 dry storage, 20 refrigerated, and 34 insulated containers available to him each weekStep by Step Solution
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