LP Project 1 Instructions: Use the information given below to set up and solve an LP and provide the manager with the relevant information needed to make the optimal decision about how to move forward. You should be prepared to answer a few quiz questions about the initial optimal decision and results. You should also be prepared to change certain assumptions and then solve the problem for a new optimal decision. You will get credit for answering questions via the LP project 1 quiz.

Gulf Seafood raises crawdads and shrimp which is then distributed throughout the southeast and enjoyed by us. They have 300 acres to devote to the farming of either crustacean. 1 acre devoted to farming shrimp will produce 8,000 lbs of shrimp or 1 acre devoted to crawfish will produce 1,000 lbs of crawfish. If crawfish are grown then rice will also be planted to get more profit out of the land and also to provide food for the crawfish. Market trends suggest that at least 35% of the total land be used for crawdads. Wholesale prices for 1 lb of shrimp is $1.35 and crawfish is $3.07. 1 acre of rice will also provide $600.00 for the rice harvested. The primary source of water to flood the fields comes from rain water but additional water must also be pumped. The water rights secured allow for 9,750 pumping hours. 1 acre of land used for crawdads requires 20 pumping hours and 1 acre of land used for shrimp requires 40 pumping hours. The main reason for this difference is that crawdads can burrow into the ground. There are 4 FTE (1 Full Time Equivalent (FTE) is 2080 hours of labor) that run the farm. An acre of crawdads requires about 19 hours of labor and an acre of shrimp requires 33 hours. With the information provided help Gulf Seafood determine the optimal strategy.

Needs to be done with Linear Programming in Excel. Please show formulas.