Question: ******Please Show step by step how to use solver with formulatext Note: This problem requires the use of a linear programming application such as Solver

******Please Show step by step how to use solver with formulatext
Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver. A manufacturer has the capability to produce both chairs and tables. Both products use the same materials (wood, nails and paint) and both have a setup cost ($100 for chairs, $200 for tables). The firm earns a profit of $20 per chair and $65 per table and can sell as many of each as it can produce. The daily supply of wood, nails and paint is limited. To manage the decision-making process, an analyst has formulated the following linear programming model: Max 20x1 + 65x2 100y1 200y2 s.t. 5x1 + 10x2 100 [Constraint 1} 20x1 + 50x2 250 {Constraint 2} 1x11.5x2 10 [Constraint 3} My1x1 {Constraint 4} My2x2 [Constraint 5} Yi = 1, if product j is produced 0, otherwise Set up the problem in Excel and find the optimal solution. What is the maximum profit possibleStep by Step Solution
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