Min Cost 2 M H 1 5 M S 3 B H 2 B S st table 5 0 M H 1 0 0 M S , 5 0 , 0 0 0 , Available Yarn , 8 M H 1 0 M S , 9 , 6 0 0 , Machine Time , M H B H , 1 , 0 0 0 , Hats Needed , M S B S , 2 , 0 0 0 , Scarves Needed , M H , M S , B H , B S , 0 , Non Negativity constraint Use Solver on this LP problem to determine the minimum cost of completing the contract a What is the optimal solution b What is the optimal value c It will cost $ 2 0 to add an additional 5 hours of machine time Is this a good business decision What would be the total cost of completing the contract if the hours are added

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Question: Min Cost: 2 M H + 1 . 5 M S + 3 B H + 2 B S st . table [ [

Min Cost:

2 M_{H} + 1.5 M_{S} + 3 B_{H} + 2 B_{S}

.

\

table

[[50 M_{H} + 100 M_{S}, 50, 000,

Available Yarn

], [8 M_{H} + 10 M_{S}, 9, 600,

Machine Time

], [M_{H} + B_{H}, 1, 000,

Hats Needed

], [M_{S} + B_{S}, 2, 000,

Scarves Needed

], [M_{H}, M_{S}, B_{H}, B_{S}, 0,

Non

-

Negativity constraint

]]

Use Solver on this LP problem to determine the minimum cost of completing the contract.

.

What is the optimal solution?

.

What is the optimal value?

.

It will cost $

20

to add an additional

5

hours of machine time. Is this a good business decision? What would be the total cost of completing the contract if the hours are added?

$Min Cost: 2MH+1.5MS+3BH+2BS st. \table[[50MH+100MS,50,000,Available Yarn],[8MH+10MS,9,600,Machine Time],[MH+BH,1,000,Hats Needed],[MS+BS,2,000,Scarves Needed],[MH,MS,BH,BS,0,Non-Negativity constraint]] Use$

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