1. Leather Limited manufactures two types of belts: the deluxe model and the regular model. Each...

 

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1. Leather Limited manufactures two types of belts: the deluxe model and the regular model. Each type requires 1 square meter of leather. A regular belt requires 1 hour of skilled labor, and a deluxe belt requires 2 hours. Each week, 40 square meter of leather and 60 hours of skilled labor are available. Each regular belt contributes $3 to profit and each deluxe belt, $4. (a) State the problem in a formal Linear Programming equations! (b) Solve the problem using Simplex method! (c) Write down your conclusion from the optimal solution that you have. (d) To improve the total profit of the company, is it better to increase the inventory of leather per week, or to increase the availability of skilled labor per week? Explain! Answer (max 30 points): 1. Leather Limited manufactures two types of belts: the deluxe model and the regular model. Each type requires 1 square meter of leather. A regular belt requires 1 hour of skilled labor, and a deluxe belt requires 2 hours. Each week, 40 square meter of leather and 60 hours of skilled labor are available. Each regular belt contributes $3 to profit and each deluxe belt, $4. (a) State the problem in a formal Linear Programming equations! (b) Solve the problem using Simplex method! (c) Write down your conclusion from the optimal solution that you have. (d) To improve the total profit of the company, is it better to increase the inventory of leather per week, or to increase the availability of skilled labor per week? Explain! Answer (max 30 points):