Question: Please answer thoroughly and include work in excel solver. Thank you. A manufacturer owns two plants that produce the same product. It costs 20x1/2 to
Please answer thoroughly and include work in excel solver. Thank you.
A manufacturer owns two plants that produce the same product. It costs 20x1/2 to produce x units at Plant 1and 40x1/3 to produce x units at Plant 2. Each plant can produce up to 70 units and each unit produced can sell for $10. At most 120 units can be sold.
a) Formulate a mathematical program to determine the production levels that will maximize profit for
this manufacturer. Clearly define your decision variables, objective and constraints
b) Implement the model in Excel and use solver to find the optimal solution.
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