Question: Please solve using Excel Solver Decision Model. Thank you. Create and submit an Excel Solver decision model to maximize profit for the scenario described below.

Please solve using Excel Solver Decision Model. Thank you.

Please solve using Excel Solver Decision Model. Thank you. Create and submit

Create and submit an Excel Solver decision model to maximize profit for the scenario described below. What is the optimal solution? Be sure to document your decision model for full credit. SCENARIO: Storage-Solutions, Inc. manufactures three types of data storage products: Soft data storage, Vertical data storage and Horizontal data storage. All of these require three resources - Labor (in hours), Direct Materials (in units), and Administration (in hours). The unit profits on these products are $75,$50, and $40, respectively. Storage-Solutions, Inc. will commit to building at most 150,000 units of Soft Storage, at most 100,000 units of Vertical Storage, and at most 90,000 units of Horizontal Storage. Soft data storage requires 3 hours of labor, 1 unit of direct material, and 0.5 hours of administrative support. Vertical data storage requires 2 hours of labor, 0.5 units if direct material, and 0.3 hours of administrative support. Horizontal data storage requires 1 hour of labor, 0.25 units of direct material, and 0.2 hours of administrative. There are 400,000 hours of labor, 200,000 units of direct material, and 100,000 hours of administration available. The formulation for this scenario is shown below. Formulation: 1. Goal: Maximize Profit 2. Decision Variables: X1 = the number of soft data storage units to make X2 = the number of vertical data storage units to make X3 = the number of horizontal data storage units to make 3. Objective Function: MAX: 751+502+403 4. Constraints: Subject To... 3X1+2X2+X3400,000(labor)X1+0.5X2+0.25X3200,000(directmaterial)0.51+0.32+0.23100,000(administration)X1150,000X2100,000X390,000

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