Question: Part 1. Module 4 material discussed linear programming models and their application in business. In this paper the student will apply the four (4) steps
Part 1. Module 4 material discussed linear programming models and their application in business. In this paper the student will apply the four (4) steps in formulating a linear program to a hypothetical business situation.
Instructions:
Using the four steps to follow in the formulation of a linear program model a problem that requires the use of a decision made related to the application of the use of linear programming based on the following case:
- A company produces benches and tables for patios. Banks generate a profit of $9. The tables generate a profit of $20 each. Perform linear programming with the data in the Table presented below. The student will assume that this data comes from the company.
- The following table shows the data with the hours required to produce the benches and patio tables in wooden feet needed, hours of work by carpenters.
Banks | Picnic tables | Available hours | |
Carpenters | 4 | 6 | 1,200 |
Wood available | |||
Wood (foot) | 10 | 35 | 3,500 |
Usefulness | $9 | $20 |
3.Using your creativity you willgive a name and location to the company.
4. It will describe each step in the formulation of linear programming using: Modeling Table of a real scenario: Linear programming
| Modeling in a Real Scenario: Linear Programming Company Name Localization | |
Step | Description |
Fully understand the administrative problem faced. | |
Identify the objective and constraints. | |
Define decision variables. | |
Use decision variables to write mathematical expressions of the objective function and constraints. | |
Note: Next to this Table, attach results from the Excel Qm or QM for Windows programs that served as a support tool in the decision making of modeling a real scenario. |
3. Include the interpretation of the results how many units you should produce from each and how much is the optimal profit. Include this interpretation with recommendations. It may include the results of the sensitivity analysis.
4. For the estimation of these criteria, you will use the Excel QM tool or QM for Windows.
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