Question: Data for the problem is dependent on your student ID number. Enter your student ID number 920505622 Monetary data on types of books Book 1
Data for the problem is dependent on your student ID number. Enter your student ID number 920505622 Monetary data on types of books Book 1 Book 2 Book 3 Book 4 Book 5 Selling price $53 $40 $44 $31 $40 Variable cost $20 $20 $15 $17 $22 Maximum demand 5000 4000 3000 4000 3000 What is the optimal solution (that is the optimal number produced of each type of book)? How many books are produced in total? What is the optimal profit? Does the optimal solution spend all the budget? If not, how much is leftover? Bookco Publishers is considering publishing five textbooks. The maximum number of copies of each textbook that can be sold, the variable cost of producing each textbook, and the selling price of each textbook are given in the above table. Bookco is limited by two resources. One is capacity. They can produce at most 10,000 books in total. Second is budget. They have $170,000 to spend on producing the books. The cost of producing the books is equal to the sum of number produced of each book multiplied by the respective variable cost. For example, if they produce 2000 copies of Book 2 and 1000 copies of Book 5, then the total cost is 2000*$20 + 1000*$22 = $62000. Bookco wants to maximize its profit. Profit is calculated by the sum of the profit for each book. For example, if they produce 2000 copies of Book 2 and 1000 copies of Book 5, then the profit is 2000*($40-$20) + 1000*($40-$22) = $58000 Formulate a linear program mathematically to determine how Bookco can maximize its profit. Create a spreadsheet model and solve using Solver. Turn in your spreadsheet model, Answer Report and your answers to the following questions (put your answers below).
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