Question: 5. The research and development department has been developing four possible new product lines. Management must now make a decision as to which of these

5. The research and development department has
5. The research and development department has been developing four possible new product lines. Management must now make a decision as to which of these four products actually will be produced and at what levels. Therefore, an operations research (OR) study has been requested to find the most profitable product mix. A substantial cost is associated with beginning the production of any product, as given in the first row of the following table. Management's objective is to find the product mix that maximizes the total profit (total marginal revenue minus start-up costs). Product 1 2 3 4 Start-up Cost $50,000 $40,000 $70,000 $60.000 Marginal Revenue $70 S60 $100 $80 Maximum Production 2000 1000 1750 1500 Management has imposed an additional constraint that no more than two of the product lines can be made. Formulate an MIP (Mixed Integer Programming) model for this problem. Then use Solver to find the optimal solution. In your solution, include a screen shot of your Excel worksheet showing row numbers and column letters, and a screen shot of the Solver Parameters window. In a sentence, explicitly identify the number of units of each product that should be produced and the maximized profit

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