Hello,

Please help me solve this. It is for Business Analytics and Modeling Chapter 8.

Thank you! :)

The XYZ Company produces two products. The total profit achieved from these products (in thousands of dollars) is described by the following equation. Totalprofit=0.3X120.4X22+7X1+11X2+1,500 where x1=thousandsofunitsofproduct1x2=thousandsofunitsofproduct2 Every 1,000 units of product 1 require 1 hour of time in the shipping department, and every 1,000 units of product 2 require 30 minutes in the shipping department. Each unit of each product requires two pounds of a special ingredient, of which 64,000 pounds are available. Additionally, 80 hours of shipping labor are available. Demand for X1 and X2 is unlimited. (a) Formulate an NLP model for this problem to maximize profit (in thousands of dollars). MAX: 0.3X12+8X1+0.4X22+11X2+1500 Subject to: shipping department special ingredient x1,x20 (b) Implement your model in a spreadsheet and solve it. What is the optimal solution? (Round your numerical values to three decimal places.)