5. A company is attempting to decide the mix of products which it should produce next...

 

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5. A company is attempting to decide the mix of products which it should produce next week. It has seven products, each with a profit ($) per unit and a production time (man-hours) per unit as shown below Product Profit ($ per unit) 1 2 3 4 5 6 7 10 22 35 19 55 10 115 ● Production time (man-hours per unit) 1.0 2.0 3.7 2.4 4.5 0.7 9.5 The company has 720 man-hours available next week. Furthermore, the company has the following restrictions. If any of product 7 are produced an additional fixed cost of $2000 is incurred. Each unit of product 2 that is produced over 100 units requires a production time of 3.0 man-hours instead of 2.0 man-hours (e.g. producing 101 units of product 2 requires 100(2.0) + 1(3.0) man-hours) If both product 3 and product 4 are produced 75 man-hours are needed for production line set-up and hence the (effective) number of man-hours available falls to 720 - 75 = 645 Solve the problem using Excel Solver. (Upload the excel sheet with your report) 5. A company is attempting to decide the mix of products which it should produce next week. It has seven products, each with a profit ($) per unit and a production time (man-hours) per unit as shown below Product Profit ($ per unit) 1 2 3 4 5 6 7 10 22 35 19 55 10 115 ● Production time (man-hours per unit) 1.0 2.0 3.7 2.4 4.5 0.7 9.5 The company has 720 man-hours available next week. Furthermore, the company has the following restrictions. If any of product 7 are produced an additional fixed cost of $2000 is incurred. Each unit of product 2 that is produced over 100 units requires a production time of 3.0 man-hours instead of 2.0 man-hours (e.g. producing 101 units of product 2 requires 100(2.0) + 1(3.0) man-hours) If both product 3 and product 4 are produced 75 man-hours are needed for production line set-up and hence the (effective) number of man-hours available falls to 720 - 75 = 645 Solve the problem using Excel Solver. (Upload the excel sheet with your report)

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