A steel company manufactures two types of products: pots and pans. Producing a pot, requires 2...

 

Transcribed Image Text:

A steel company manufactures two types of products: pots and pans. Producing a pot, requires 2 unit of raw material 1, 4 units of raw material 2 and 3 hours of labor time. Producing a pan, 3 units of raw material 1, 3 units of raw material 2, and 4 hours of labor time are required. Profits for per product are $10 and $14 for pots and pans, respectively. The company has available 50 units of raw material 1, 60 units of raw material 2 and 80 hours of labor time. Besides, the company expects the demand for pots is 15 and demand for pans is 20. The company has established the following goals, in order of their importance: 1) The company sets a minimum amount of profit $600. 2) The company wants to avoid underutilization of labor hours. 3) The company wants to limit the additional labor hours with 20 hours. 4) The company wants to avoid overutilization of raw material 2. 5) The company does not want have too many units left on hand for raw material 1. 6) The company wants to minimize the unmet demands of pots and pans. However, this goal should be weighted according to the profits of the components. Formulate a goal programming model to determine how many of pots and pans should be produced. A steel company manufactures two types of products: pots and pans. Producing a pot, requires 2 unit of raw material 1, 4 units of raw material 2 and 3 hours of labor time. Producing a pan, 3 units of raw material 1, 3 units of raw material 2, and 4 hours of labor time are required. Profits for per product are $10 and $14 for pots and pans, respectively. The company has available 50 units of raw material 1, 60 units of raw material 2 and 80 hours of labor time. Besides, the company expects the demand for pots is 15 and demand for pans is 20. The company has established the following goals, in order of their importance: 1) The company sets a minimum amount of profit $600. 2) The company wants to avoid underutilization of labor hours. 3) The company wants to limit the additional labor hours with 20 hours. 4) The company wants to avoid overutilization of raw material 2. 5) The company does not want have too many units left on hand for raw material 1. 6) The company wants to minimize the unmet demands of pots and pans. However, this goal should be weighted according to the profits of the components. Formulate a goal programming model to determine how many of pots and pans should be produced.

Answer rating: 100% (QA)

Solution Let X 1 be the number of pots to be produced Let X 2 be the number of Pans to be produced ... View the full answer