Question: please help with class project a. What are the key elements in the problem: objective function, decision variable(s), parameters, and constraints? b. What are the

please help with class project
please help with class project a. What are the key elements in
the problem: objective function, decision variable(s), parameters, and constraints? b. What are
the key relationships in the problem? c. Construct an influence chart for
the problem. Howard's Apple Farm makes applesauce and apple juice from their

a. What are the key elements in the problem: objective function, decision variable(s), parameters, and constraints? b. What are the key relationships in the problem? c. Construct an influence chart for the problem. Howard's Apple Farm makes applesauce and apple juice from their apples. It costs $0.80 to produce a jar of applesauce and $0.60 to produce a bottle of apple juice. The farm has a policy that at least 20% but not more than 60% of its output must be applesauce. The farm wants to meet but not exceed the demand for each product. Howard estimates that the demand for applesauce is normally 5,000 jars, plus an additional 3 jars for each $1 spent on advertising for applesauce. The normal demand for apple juice is estimated to be 4,000 bottles, plus an additional 5 bottles for every $1 spent on advertising for apple juice. The farm has $16,000 to spend on producing and advertising its two products. Applesauce sells for \$1.75 per jar; apple juice sells for $1.75 per bottle. Howard wants to know how many units of each product to produce, and how much advertising to spend on each product, in order to maximize profit. Can you help him? a. What is the mathematical formulation of the problem? b. What is the optimal solution to the problem? Describe it in words. c. Which parameter in the problem has the greatest impact on the objective function? d. How does your optimal profit value change with respect to changes in both applesauce and apple juice unit costs? e. Does your optimal solution change if the normal demand values for applestuce and apple juice were to swap? i.e., 4000 for applesauce and 5000 for apple juice. Slide 3: problem description (use few bullet points to explain the essence of the problem) Stfte 4: key elements of the probtem (follow the examples we had in Module 3) Slide 5: key relationships between the key elements (show in formulas how your profit/costs are calculated--be detailed, follow the examples we had in Module 3) Stide 6: influence chart

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