A company manufactures four different products, each of which must be assembled, painted, and inspected. The...
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A company manufactures four different products, each of which must be assembled, painted, and inspected. The required number of hours for each of these processes is listed in the following table. Product 1 Assembly 3 Painting Inspection Product 2 2 1 1 Product 3 2 2 2 Product 4 4 3 1 Each week the company has 480, 400, and 400 hours of time for assembly, painting, and inspection, respectively. The per unit profits for the four products are $6, $4, $6, and $8, respec- tively. The company must provide at least 50 units of product 1 and at least 100 units of any com- bination of products 2 and 3 on a weekly basis. A maximum of only 25 units of product 4 should be produced. The company wants to know how many units of each product should be produced to maximize profit. Formulate this problem as a linear programming problem and solve using Excel's Data/Solver. Print out the "Answer" and "Sensitivity" reports. Using the "Answer" and "Sensitivity" reports, answer the following questions: a. What is the largest possible profit for the company while satisfying all of the constraints? b. How many units of each product should be produced and sold in order to maximize the profit? A company manufactures four different products, each of which must be assembled, painted, and inspected. The required number of hours for each of these processes is listed in the following table. Product 1 Assembly 3 Painting Inspection Product 2 2 1 1 Product 3 2 2 2 Product 4 4 3 1 Each week the company has 480, 400, and 400 hours of time for assembly, painting, and inspection, respectively. The per unit profits for the four products are $6, $4, $6, and $8, respec- tively. The company must provide at least 50 units of product 1 and at least 100 units of any com- bination of products 2 and 3 on a weekly basis. A maximum of only 25 units of product 4 should be produced. The company wants to know how many units of each product should be produced to maximize profit. Formulate this problem as a linear programming problem and solve using Excel's Data/Solver. Print out the "Answer" and "Sensitivity" reports. Using the "Answer" and "Sensitivity" reports, answer the following questions: a. What is the largest possible profit for the company while satisfying all of the constraints? b. How many units of each product should be produced and sold in order to maximize the profit?
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Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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