Question: Gemstone processing company Two types of gemstone products: ruby and jade Gemstones requires time for gathering and smoothing. Unit profit and time constraints information are

Gemstone processing company
Two types of gemstone products: ruby and jade
Gemstones requires time for gathering and smoothing. Unit profit and time constraints information are provided below:
\table[[,Ruby,Jade,Resources],[Gem gathering time,2 days,4 days,40 days],[Gem smoothing,4 days,2 days,6 days],[Profit (in $1000),4,3,]]
Upper and lower bounds for demand
Upper bound on the total demand for ruby: 8 units
Lower bound on the total demand for jade: 3 times ruby production -202d LP example
A two variable LP example
x:ruby, y: jade
(1)
(2)00
(5)
Gemstone Example: changes
in RHS of constraint 2
What is the shadow price
(round to 2 digits)?
6
1
What is the sensitivity range
of the RHS?
20,44
28,52
30,44
20,520,4
3
1
3-1. What is the allowable
increase?
4
3-2. What is the allowable
decrease?
55
Gemstone Example: changes
in RHS of constraint 2
What is the shadow price
(round to 2 digits)?
6
1
What is the sensitivity range
of the RHS?
20,44
28,52
30,44
20,527
1
3-1. What is the allowable
increase of the RHS?
8
1
3-2. What is the allowable
decrease of the RHS?
. pm 8:32
.7
1
3-1. What is the allowable
increase of the RHS?
8
1
3-2. What is Gemstone processing company
57
Two types of gemstone products: ruby and jade
Gemstones requires time for gathering and smoothing. Unit profit and time constraints information are provided below:
\table[[,Ruby,Jade,Resources],[Gem gathering time,2 days,4 days,40 days],[Gem smoothing,4 days,2 days,6 days],[Profit (in $1000),4,3,]]
Upper and lower bounds for demand
Upper bound on the total demand for ruby: 8 units
Lower bound on the total demand for jade: 3 times ruby production -202d LP example
A two variable LP example
x:ruby, y: jade
(1)
(2)00
(5)3
1
3-1. What is the allowable
increase?
4
1
3-2. What is the allowable
decrease? Gemstone Example: changes
in RHS of constraint 2
What is the shadow price
(round to 2 digits)?
6
What is the sensitivity range
of the RHS?
20,44
28,52
30,44
20,527
1
3-1. What is the allowable
increase of the RHS?
8
1
3-2. What is the allowable
decrease of the RHS?
decrease of the RHS?
 Gemstone processing company Two types of gemstone products: ruby and jade

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!