Question: please show stesps and formulas Problem 2: (12 points) Use a separate Excel file for this problem. Name the Excel file as follows: Your last

Problem 2: (12 points) Use a separate Excel file for this problem. Name the Excel file as follows: Your last name_Problem2. For example, your instructor would name it as follows: Jance_Problem2. Your company manufactures five products: A, B, C, D, and E. The company wants to maximize its monthly profit. The maximum possible sales of products A, B,C,D, and E are 125,150,175,130, and 100 respectively. The company has 1600 labor hours, 1000 units of Material 1, 1300 units of Material 2, 2300 units of Material 3, and 1700 units of Material 4 available. Your job is to determine how many units of products A, B, C, D, and E should be produced in order to maximize profits. 1) Write out the mathematical model for the problem (2 points). 2) Setup a linear programming model in Excel and then use Solver to solve. You must show your decision model and Solver settings (4 points). A) What is the optimal solution? B) What is the maximum profit? 3) Run an Excel Solver Answer Report and Sensitivity Report (2 points) 4) How does the solution change if the profit of product D is increased to $22 instead of $18 (2 points)? 5) How does the solution change if one is forced to make at least 20 of Product D? Add the constraint to the model and rerun Solver. What is the optimal solution and maximum profit now (2 points)? Problem 2: (12 points) Use a separate Excel file for this problem. Name the Excel file as follows: Your last name_Problem2. For example, your instructor would name it as follows: Jance_Problem2. Your company manufactures five products: A, B, C, D, and E. The company wants to maximize its monthly profit. The maximum possible sales of products A, B,C,D, and E are 125,150,175,130, and 100 respectively. The company has 1600 labor hours, 1000 units of Material 1, 1300 units of Material 2, 2300 units of Material 3, and 1700 units of Material 4 available. Your job is to determine how many units of products A, B, C, D, and E should be produced in order to maximize profits. 1) Write out the mathematical model for the problem (2 points). 2) Setup a linear programming model in Excel and then use Solver to solve. You must show your decision model and Solver settings (4 points). A) What is the optimal solution? B) What is the maximum profit? 3) Run an Excel Solver Answer Report and Sensitivity Report (2 points) 4) How does the solution change if the profit of product D is increased to $22 instead of $18 (2 points)? 5) How does the solution change if one is forced to make at least 20 of Product D? Add the constraint to the model and rerun Solver. What is the optimal solution and maximum profit now (2 points)
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