Question: I need both 6 and 7, step by step. Thank you. 6. SELF test Refer to the computer solution of the Kelson Sporting Equipment problem

I need both 6 and 7, step by step. Thank you.

6. SELF test Refer to the computer solution of the Kelson Sporting Equipment problem in Figure 3.13 (see Problem 5). a. Determine the objective coefficient ranges. b. Interpret the ranges in part (a). c. Interpret the right-hand-side ranges. d. How much will the value of the optimal solution improve if 20 extra hours of packag- ing and shipping time are made available? Investment Advisors, Inc., is a brokerage firm that manages stock portfolios for a number of clients. A particular portfolio consists of U shares of U.S. Oil and I shares of Huber Steel. The annual return for U.S. Oil is $3 per share and the annual return for Huber Steel is $5 per share. U.S. Oil sells for $25 per share and Huber Steel sells for $50 per share. The portfolio has $80,000 to be invested. The portfolio risk index (0.50 per share of U.S. Oil and 0.25 per share for Huber Steel) has a maximum of 700. In addition, the portfolio is limited to a maximum of 1000 shares of U.S. Oil. The linear programming formulation that will maximize the total annual return of the portfolio is as follows: 30 + 5H Maximize total annual return Max s.t. 250 + 50H

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