1) To prepare for Christmas, a retailer is deciding how many real trees and artificial trees...
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1) To prepare for Christmas, a retailer is deciding how many real trees and artificial trees to purchase from the supplier. The supplier has provided the following information: Real tree Artificial tree Cost $80 each $160 each Availability 90 trees 100 trees b) Set up the necessary constraints. Min. order 20 trees N/A The retailer wishes to minimize the investment cost, while still having at least 50 total trees for customers to purchase. In addition, the number of artificial trees must be at least half the number of real trees. a) Set up the necessary decision variables and the objective function. c) Use the graphical method to identify the feasible solution region and list how to do that in Excel with the given data. d) Test all the corner points and determine the optimal solution that minimizes cost to the retailer. If rounding is required, be sure to check all viable rounding possibilities. 1) To prepare for Christmas, a retailer is deciding how many real trees and artificial trees to purchase from the supplier. The supplier has provided the following information: Real tree Artificial tree Cost $80 each $160 each Availability 90 trees 100 trees b) Set up the necessary constraints. Min. order 20 trees N/A The retailer wishes to minimize the investment cost, while still having at least 50 total trees for customers to purchase. In addition, the number of artificial trees must be at least half the number of real trees. a) Set up the necessary decision variables and the objective function. c) Use the graphical method to identify the feasible solution region and list how to do that in Excel with the given data. d) Test all the corner points and determine the optimal solution that minimizes cost to the retailer. If rounding is required, be sure to check all viable rounding possibilities.
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Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
Posted Date:
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