Question 4: Sensitivity Analysis (13 Points) Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all > constraints. 1) What are the Binding Constraints and the Optimum amount of Objective Function? 2) What are the slack/surplus values for Material 1. Material 2 and Material 3? 3) Looking at the Shadow prices, how much would the objective function change by il Material 2 is increases by 5 units? 4) What % of available Material 3 can be reduced without it affecting the current (given) optimum solution? 5) Why the amount of reduced costs are zero? Given results after developing the excel LP and Solver: Excel program Availability Product X 3 Product Y $ 2 60 3 48 Material 1 Material 2 Material 3 Profit unit 1 20 1 54 56 4 Number produced Profit contribution 13.333333 53.333333 Total 77.333333 24 Solver Sensitivity Report: y Variable Cells it Name Final Value 1333333333 Reduced Cost Objective Coefficient ProductX Product Allowahle Increase 5 Allowable Decrease 0.4 0 4 4 6 0.6655665673.333333333 Constraints Allowable Increase Name Material Material Malena Final Sliadow Constraint Value Price RH Side 60 1.111111112 48 0.222222222 48 22.33333333 20 Allosable Decrease 60 24 12 12 LE 30 24 2.666666667 Freel program Avritahility Prestix 3 60 Naserin 1 Matatal 2 Atasual 3 Pratibu 15 5 2 1 3 1 $4 4 - Nuuulu puoduod Pratitrontribution 13.3333 51117213 14 77 139593 Solver Sumsitisity Report: Varhahle 2014 Name Final Valur 1333333333 Reduced Cost 0 Ohjeettve Cotllicient Allowalk lecirast Allowahle brease 04 Par Constraints Final Shadon' Price 11. 11111111 Coustelut R.II. Sidr Nams Marvi Man 2 Allomable Increase 24 Allowable Decrease 12 1.27222222 12 48 20 17.11.13333 263SSEGC67