Question: Please use Solver in excel and show all your work Exercise 4. A group of local investors is working on the establishment of a gaming
Please use Solver in excel and show all your work
Exercise 4. A group of local investors is working on the establishment of a gaming house. The businessmen have already purchased a building with a floor space limitation of 25 square yards. They are considering four types of gambling: blackjack, poker, craps, and roulette. The space required and estimated profit added per table is given as follows: Game Blackjack Poker Craps Roulette Req. yd? Added Profit per Table per Table First Second Third Fourth 4 10 7 5 9 9 8 8 6 11 10 9 8 3 8 6 4 2 The investors want no more than four tables of any single game, and have realized that their marginal profits decrease for each game as more tables are added. This indicates that the clientele may fill, for example, one roulette table all the time, but a second roulette table might be idle part of the time. Write and solve a linear optimization model to decide how many tables of each game to have in order to maximize profits? Exercise 4. A group of local investors is working on the establishment of a gaming house. The businessmen have already purchased a building with a floor space limitation of 25 square yards. They are considering four types of gambling: blackjack, poker, craps, and roulette. The space required and estimated profit added per table is given as follows: Game Blackjack Poker Craps Roulette Req. yd? Added Profit per Table per Table First Second Third Fourth 4 10 7 5 9 9 8 8 6 11 10 9 8 3 8 6 4 2 The investors want no more than four tables of any single game, and have realized that their marginal profits decrease for each game as more tables are added. This indicates that the clientele may fill, for example, one roulette table all the time, but a second roulette table might be idle part of the time. Write and solve a linear optimization model to decide how many tables of each game to have in order to maximize profits
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