Question: Question 1) (20 points) Consider a pottery workshop that produces bowls, mugs, and plates. The number of labor hours and amount of clay needed to
Question 1) (20 points) Consider a pottery workshop that produces bowls, mugs, and plates. The number of labor hours and amount of clay needed to produce a unit of these products is presented in table below: There are 80 hours of labor and 240 pounds of clay available on each day. The revenue generated by selling a unit of plate, bowl, and mug is $35,$40, and $50, respectively. 1. Write a linear optimization mathematical model to determine the number of plates, bowls, and mugs that needs to be produced in order to maximize the total revenue. The model must consider the restrictions of total labor hours-and-lay-available during a day. Clearly define decision variables, objective function, and constraints for the optimization model. 2- Use Excel to solve the optimization model. How many of each product should be produced to maximize the total revenue? (Do not forget to submit your Excel file)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
