Consider the following LP problem. where x 1 , x 2 , and x 3 represent the

Question:

Consider the following LP problem.

where x₁, x₂, and x₃ represent the decision variables. Solve the LP problem to answer the following questions.

a. What are the values of x₁, x₂, and x₃ at the optimal solution? What is the maximum value of z?

b. Identify the binding and nonbinding constraints and report the slack value, as appropriate.

c. Report the shadow price and range of feasibility of each binding constraint. Interpret the results.

d. What is the range of optimality for the three objective function coefficients? Interpret the results.

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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Question Posted: Feb 16, 2023 08:25 AM

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Consider the following LP problem. where x 1 , x 2 , and x 3 represent the

Question:

Maximize Subject to: Constraint 1 Constraint 2 Constraint 3 Constraint 4 z = 5x₁ + 8x₂ + 6x3 5x₁ + 10x₂ + 5x3 ≤ 80, 6x₁ + 9x2 + 8x390, X₁ ≤ 15, X1, X2, X3 ≥ 0,

Step by Step Answer:

a Optimal solution x 1 12 x 2 2 x 3 0 and z 76 b Constraints 1 and 2 ar...View the full answer

Business Analytics Communicating With Numbers

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