Question: Along with the formulation, please solve the Integer Program in excel and find optimal solution and optimal value. 9. Orrin Sage is opening a bicycle

Along with the formulation, please solve the Integer Program in excel and find optimal solution and optimal value.
Along with the formulation, please solve the
9. Orrin Sage is opening a bicycle shop and considering his initial order of bicycles for the coming season. Orrin is considering two different suppliers of bikes- Hoosier Bikes and Albatross Imports. With either supplier, there will be costs associated with setting up the contract. He estimates this cost of being $5,000 with Hoosier Bikes and $6,000 with Albatross Imports. MISSTY His entire budget for purchasing bikes is $50,000 (including cost of contracts). BIKE COSTS (PER BIKE) KIDS (K) MOUNTAIN (M) COMFORT (C) ROAD (R) Hoosier Bikes (H) 45 110 100 400 Albatross Imports (A) 30 130 90 475 Selling Price 90 240 190 700 Projected Demand 60 100 80 60 a. Formulate a linear program to help him maximize his profits. Use the following decision variables: for i = H, A, and j = K, M, C, R, Xj: number bikes purchased from supplier i of type ; y: binary variable of supplier i; i.e., y, = 1 if Orrin signs a contract with Supplier is y, = 0, otherwise

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!