We use resources to make products. Consider 6 such resources and 5 such products. The various...

 

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We use resources to make products. Consider 6 such resources and 5 such products. The various resources that we use might include (e.g.) linen, elastic, plastic, foam, etc. The various products that we make might include (e.g.) soap, sanitiser, washable masks, disposable masks, filters, shields, other personal protection equipment (PPE), etc. (Alternatively, the products might possibly be various graphical processing units - or GPUS - and the various resources might possibly be Solder, Copper wire, Plastic, Aluminium, Bearings, Die size.) We show below the profit of each product, the number of each resource required to make each product, and the total availability of each resource. Product I Product 2 Product 3 Product 4 Product 5 Profit of Product $510 $270 S810 $300 S510 Resource Availability Resource 1 10 6. 2487 Resource 2 6. 6. 3 10 3030 Resource 3 2 3. 10 6. 5217 Resource 4 7 6. 4 3. 4000 Resource 5 6. 3 10 4999 Resource 6 10 2769 la) Formulate a Linear Programming (an LP) model for this problem. 1b) Create a Microsoft Excel spreadsheet model for this problem. 1c) Solve the problem - using Microsoft Excel Solver. Generate the Sensitivity report for the problem and Using the Microsoft Excel Solver sensitivity report (as appropriate), 1d) What is the optimal production plan (X1, X2, X3, X4 , X5 ) and the associated profit? Refer to your answers to any of a), b) and/or c) above as appropriate. le) Which constraints, if any, are binding? Refer to your answers to any of the above parts as appropriate and explain your reasoning. 1f) The people running the company are now offered the opportunity of an exchange of goods. The offer is for the company to receive 1 of Resource 2, 10 of Resource 4 and 100 of Resource 5 but for the company to have to relinquish (or surrender or give away. or pay for these resources with) 10 of Resource 1, 5 of Resource 3 and 3 of Resource 6. Should the company accept this offer? Clearly explain with clear calculations (to at least 3 decimal places) how much money the company would gain or lose by agreeing to such an exchange, making it clear whether this would result in a gain or a loss. 2. We use resources to make products. Consider 6 such resources and 5 such products. The various resources that we use might include (e.g.) linen, elastic, plastic, foam, etc. The various products that we make might include (e.g.) soap, sanitiser, washable masks, disposable masks, filters, shields, other personal protection equipment (PPE), etc. (Alternatively, the products might possibly be various graphical processing units - or GPUS - and the various resources might possibly be Solder, Copper wire, Plastic, Aluminium, Bearings, Die size.) We show below the profit of each product, the number of each resource required to make each product, and the total availability of each resource. Product I Product 2 Product 3 Product 4 Product 5 Profit of Product $510 $270 S810 $300 S510 Resource Availability Resource 1 10 6. 2487 Resource 2 6. 6. 3 10 3030 Resource 3 2 3. 10 6. 5217 Resource 4 7 6. 4 3. 4000 Resource 5 6. 3 10 4999 Resource 6 10 2769 la) Formulate a Linear Programming (an LP) model for this problem. 1b) Create a Microsoft Excel spreadsheet model for this problem. 1c) Solve the problem - using Microsoft Excel Solver. Generate the Sensitivity report for the problem and Using the Microsoft Excel Solver sensitivity report (as appropriate), 1d) What is the optimal production plan (X1, X2, X3, X4 , X5 ) and the associated profit? Refer to your answers to any of a), b) and/or c) above as appropriate. le) Which constraints, if any, are binding? Refer to your answers to any of the above parts as appropriate and explain your reasoning. 1f) The people running the company are now offered the opportunity of an exchange of goods. The offer is for the company to receive 1 of Resource 2, 10 of Resource 4 and 100 of Resource 5 but for the company to have to relinquish (or surrender or give away. or pay for these resources with) 10 of Resource 1, 5 of Resource 3 and 3 of Resource 6. Should the company accept this offer? Clearly explain with clear calculations (to at least 3 decimal places) how much money the company would gain or lose by agreeing to such an exchange, making it clear whether this would result in a gain or a loss. 2.

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NAME SAMUEL MISIKO DATE OF SUBMISSION 8TH APRIL 2021 Accounting We use resources to make products Consider 6 such resources and 5 such products The various resources that we use might inc The componen... View the full answer