Four types of products will be packed in a wagon, the weight and volume of each load
Question:
Four types of products will be packed in a wagon, the weight and volume of each load as well as the unit profit generated by each product load is presented in the following table.
The maximum capacity allowed in the wagon in weight and volume are 1000 tons and 850 m3, respectively. In addition, at least 10 type 2 products and less than 30 type 1 products must be taken. There is a fixed price that is paid when a product is included, regardless of the number of products taken, according to the following table:
Formulate a linear problem model to find how many loads of each type of product must be shipped to maximize profit.
Consider integer variables for the number of products. (hint: consider that there are profits and also costs in the objective function)
What is the maximum profit that will be obtained with the optimal shipping plan?
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw