Question: For each problem, clearly state the decision variables, the objective function, and the constraints. You must present the LP formulation for each problem in the

For each problem, clearly state the decision

For each problem, clearly state the decision variables, the objective function, and the constraints. You must present the LP formulation for each problem in the format presented in the class notes. If you are asked to find the optimal solution using Excel, you need to solve the LP in Excel and report the optimal values of the decision variables and the objective function. Submit only 1 Word or PDF file. You do not need to submit your Excel file. 1. (25 pts.) A wood product firm uses available time at the end of each week to make goods for stock. Currently, two products on the list of items are produced for stock: a chopping board and a knife holder. Both items require three operations: cutting, gluing, and finishing. The manager of the firm has collected the following data on these products: Item Profit per unit Cutting (minutes) Gluing (minutes) Finishing (minutes) 12 5 Chopping board Knife holder $2 $6 1.4 0.8 13 3 The manager has also decided that, during each week, 56 minutes are available for cutting, 650 minutes are available for gluing, and 360 minutes are available for finishing. a) Formulate it as a linear programming (written math) problem. b) How would you add to your formula to account for this additional information? The total time to create the knife holder units cannot be more than 60% of all time used

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