Follow the instructions of Prob 7 4 2 when considering the following
Follow the instructions of Prob. 7.4-2 when considering the following problem and the information provided about its parameters in the table below.
Minimize Z = c1x1 + c2x2,
subject to the constraints shown at the top of the next column.
x1 ≥ 0, x2 ≥ 0,
(a) Use the graphical method to solve this model when using the estimates of the parameters.
(b) Now use robust optimization to formulate a conservative version of this model. Use the graphical method to solve this model. Show the values of Z obtained in parts (a) and (b) and then calculate the percentage change in Z by replacing the original model by the robust optimization model.
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