Question: c. The shadow price and allowable range for the wood constraint are missing from the sensitivity report. What numbers should be there? Explain how you

 c. The shadow price and allowable range for the wood constraintare missing from the sensitivity report. What numbers should be there? Explain

how you were able to deduce each number. c. Suppose a part-time

c. The shadow price and allowable range for the wood constraint are missing from the sensitivity report. What numbers should be there? Explain how you were able to deduce each number. c. Suppose a part-time worker in the assembly department calls in sick for one day, so that now four fewer hours are available that day in the assembly department. How much would this affect total profit? Would it change the optimal production quantities? 5.8. Colonial Furniture produces hand-crafted colonial style furniture. Plans are now being made for the production of rocking chairs, dining room tables, and/or armoires over the next week. These products go through two stages of production (assembly and finishing). The table in the next column gives the time required for each item to go through these two stages, the amount of wood required (fine cherry wood), and the corresponding unit profits, along with the amount of each resource available next week. A linear programming model has been formulated in a spreadsheet to determine the production levels that would maximize profit. The solved spreadsheet model and corresponding sensitivity report are shown below. For each of the following parts, answer the question as specifically and completely as is possible without re-solving the problem with Solver. Notc: Each part is independent (i.e., any change made in one problem part does not apply to any other parts). a. Suppose the profit per armoire decreases by $50. Will this change the optimal production quantities? What can be said about the change in total profit

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!