4. State the objective function in terms of the decision variables. Use Dimensional analysis to set it up.

5. Give the constraints. Again, USE DIMENSIONAL ANALYSIS.

6. What is the answer? You will answer this using excel solver. (Answer reports)

Product Mix problem to Floataway Tours has $420,000 that can be used purchase new rental boats for hire during the summer. The boats can be purchased from two different manufacturers, Sleekboat and Racer. Floataway Tours would like to purchase at least 50 boats and would like to purchase the same number from Sleekboat as from Racer to maintain goodwill. At the same time, Floataway Tours wishes to have a total seating capacity of at least 200. The following table gives the number of seats and profit for each type of boat Sleekboat Sleekboat Racer Racer Speedhawk Silverbir Catma Classy d n S Number 3 5 2 6 of seats per boat Expecte $70 $80 $50 $110 d Daily Profit per boat $6000 $7000 $5000 $9000 boat Cost per