Question: Review QM for Windows and / or Excel and Changes in Objective Function Coefficients and Sensitivity Analysis Output / Report before beginning this assignment (
Review QM for Windows andor Excel and Changes in Objective Function Coefficients and Sensitivity Analysis OutputReport before beginning this assignment see Render et al
The computer output below is for a productmix problem with two products and three resource constraints. To find the solution, use QM for Windows andor Excel to help you answer the following questions. Assume that you wish to maximize profit in each case.
How many units of product and product should be produced?
How much of each of the three resources is being used? How much slack is there for each constraint? Which of the constraints are binding, and which are nonbinding?
What are the dual prices for each resource?
If you could obtain one of the resources, which one should you obtain? How much should you be willing to pay for this resource?
What would happen to profit if with the original output, management decided to produce one more unit of product
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