A store store is looking to stock the following: necklaces, bracelets, rings, and earrings. The objective function
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A store store is looking to stock the following: necklaces, bracelets, rings, and earrings. The objective function measuring profit and constraints are given below. Constraint 1 measures display space in units, constraint 2 measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions. Setup an LP program i and run additional reports (leave reports in your file) in order to answer the following questions. | |||||||||||||||||||
MAX 100X1+120X2+150X3+125X4 | |||||||||||||||||||
S.T. | |||||||||||||||||||
1) X1+2X2+2X3+2X4<108 | |||||||||||||||||||
2) 3X1+5X2+X4<120 | |||||||||||||||||||
3) X1+X3<25 | |||||||||||||||||||
4) X2+X3+X4>50 | |||||||||||||||||||
a. | How many necklaces should be stocked? | ||||||||||||||||||
b. | Now many bracelets should be stocked? | ||||||||||||||||||
c. | How many rings should be stocked? | ||||||||||||||||||
d. | How many earrings should be stocked? | ||||||||||||||||||
e. | How much space will be left unused? | ||||||||||||||||||
f. | How much time will be used? | ||||||||||||||||||
g. | By how much will the second marketing restriction be exceeded? | ||||||||||||||||||
h. | What is the profit? | ||||||||||||||||||
i. | To what value can the profit on necklaces drop before the solution would change? | ||||||||||||||||||
j. | By how much can the profit on rings increase before the solution would change? | ||||||||||||||||||
k. | By how much can the amount of space decrease before there is a change in the profit? | ||||||||||||||||||
l. | You are offered the chance to obtain more space. The offer is for 15 units and the total price is 1500. What should you do? |
Related Book For
Stats Data and Models
ISBN: 978-0321986498
4th edition
Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock
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