Refer to Table M7.6, which is the optimal tableau for the Flair Furniture Company problem. (a) What
Question:
Refer to Table M7.6, which is the optimal tableau for the Flair Furniture Company problem.
(a) What are the values of the shadow prices?
(b) Interpret the physical meaning of each shadow price in the context of the furniture problem.
(c) What is the range over which the profit per table can vary without changing the optimal basis (solution mix)?
(d) What is the range of optimality for C (number of chairs produced)?
(e) How many hours can Flair Furniture add to or remove from the first resource (painting department time) without changing the basis?
(f) Conduct RHS ranging on the carpentry department resource to determine the range over which the shadow price remains valid.
Step by Step Answer:
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna