Question: Linear Programming Assignment The Firerock Tire Company is trying to find the best way to make use of excess capacity, specifically, 20,000 labor hours. The
Linear Programming Assignment
The Firerock Tire Company is trying to find the best way to make use of excess capacity, specifically, 20,000 labor hours. The company is considering two different tires: conventional and radial. Each radial tire takes 4.0 labor hours and has a contribution margin of $200. A conventional tire requires 2 labor hours and contributes $150. A commitment of 3000 conventional tires has been made to a favored customer. The marketing department estimates that up 8000 additional conventional tires (over and above the commitment of 3000) could be sold. Consequently, the total possible demand for conventional tires is 11,000. The marketing department estimates that the potential demand for radial tires is 6,000 or less.
- Formulate this as a LP problem
- Find a solution using the graphical method
- Find a solution using an online linear programming tool (Just Google for one, there are many) or Excel (need the Solver add on)
please explain steps in more in depthly.
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