Question: Problem #2: Consider the following LP problem and its solution (refer to CDP#10). MAX 4X1+6X2+7X3 ST 1) 3X1+2X2+5X310 OPTIMAL SOLUTION Objective Function Value = Variable

Problem #2: Consider the following LP problem and

Problem #2: Consider the following LP problem and

Problem #2: Consider the following LP problem and its solution (refer to CDP#10). MAX 4X1+6X2+7X3 ST 1) 3X1+2X2+5X310 OPTIMAL SOLUTION Objective Function Value = Variable Value 166.000 Reduced Costs X1 X2 X3 0.000 16.000 10.000 2.000 0.000 0.000 Constraint Slack/Surplus Dual Prices 1 2 3 4 38.000 2.000 0.000 0.000 0.000 0.000 1.200 -2.600 OBJECTIVE COEFFICIENT RANGES Variable Lower Limit Current Value Upper Limit X1 X2 X3 No Lower Limit 4.375 No Lower Limit 4.000 6.000 7.000 6.000 No Upper Limit 9.600 Write your answer in blank lines. (11) What is the maximum profit? (12) What is the value of X2 in the optimal solution? (13) What is the number of less-than-or-equal to type constraints in the problem? (14) If the resource corresponding to constraint 3 is offered at unit price of $1.00, would you be willing to buy it? (answer yes or no) (15) If the profit from X1 gone up to 7.50 while the others remain at the current values, would there be a change in the optimal solution? (answer yes or no)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!