Formulate and solve Cohen Chemicals, Example B1 from page 708 in the textbook.

a. What is the final value of the objective function?

b. What are the values of the decision variables?

c. Which constraints are binding?

d. What would you pay to relax each constraint

It needs to be done in Excel using the solver program.

Example B1 A MINIMIZATION PROBLEM WITH TWO VARIABLES Cohen Chemicals, Inc., produces two types of photo-developing fluids. The first, a black-and-white picture Nhemical, costs Cohen $2,500 per ton to produce. The second, a color photo chemical, costs $3,000 per ton, Based on an analysis of current inventory levels and outstanding orders, Cohen's production man- ager has specified that at least 30 tons of the black-and-white chemical and at least 20 tons of the color chemical must be produced during the next month. In addition, the manager notes that an existing inventory of a highly perishable raw material needed in both chemicals must be used within 30 days. To avoid wasting the expensive raw material, Cohen must produce a total of at least 60 tons of the photo chemicals in the next month. APPROACH Formulate this information as a minimization LP problem, Let: Xi = number of tons of black-and-white photo chemical produced X; = number of tons of color photo chemical produced Objective: Minimize cost $2,500X; + $3,000X, Subject to: Xi 2 30 tons of black-and-white chemical X, 20 tons of color chemical X1 + X, 260 tons total X1, X, 0 nonnegativity requirements SOLUTION To solve the Cohen Chemicals problem graphically, we construct the problem's feasible region, shown in Figure B.9. X-pods: Blueberrys: Objective Function Max Profit = 7*X + 5*B Constraints Electronics: 4*X + 3*B = 240 Assembly: 2*X + 1*B S 100 X 20: X 20 B 20: B 20