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3. Exercise Three: Tribeca Studio produces two types of chairs; one is an economic, office model (model X), whereas the other is a more sophisticated, recliner (model Y). Based on daily historical data, management expects a demand of at least 110 units for model X, and at least 95 for model Y. In addition, due to limited capacity on the assembly line, production of model X cannot exceed 185 units, and 226 units for model Y respectively. What's more, due to a contractual obligation to a dealer, at least 200 total units must be send every day. If the sale of each model X unit yields a profit of $70.25, and each modely unit yields a $40.99 profit, how many units of each type should be made daily to maximize profits? (Hint: Use the simplex algorithm as shown in class) (3 Points). 70 71 72 73 74 Exercise Three: Tribeca Studio produces two types of chairs; one is an economic, officemodel (model X), whereas the other is a more 75 76 Model B 77 Units 185 226 78 Profit 70.25 40.99 22259.99 79 Constraints 80 Demend A 1 185 > 81 Demend B 1 226 ) 95 B2 Production A 1 185 C 185 83 Production B 1 226 CE 226 84 Constractual 1 411 > 200 85 LHS sign RHS 86 HERR Sheet1 Sheet2 Sheet3 20 110 + Ready Type here to search THE hp