Question: show all the work in EXCEL AND STEPS ONE BY ONE. please everything must clear and able to see. EVERYTHING IN EXCEL PLEASE Problem 2:
show all the work in EXCEL AND STEPS ONE BY ONE. please everything must clear and able to see. EVERYTHING IN EXCEL PLEASE
Problem 2: A company is preparing a production plan for an item to minimize total cost for the next three months. The holding cost applied to the inventory at the end of each month is $3/item. The demand for the next three months is expected to be 500,700, and 400 units. The item can be produced using resources at plant A, at plant B and at a third party facility. The capacity and costs are shown below. Plant A Plant B Third Party Capacity 250 Items/month 300 Items/month 100 Items/month Costs $25/item $27/item $31/item a) Formulate the LP problem (Hint: 11 decision variables and 12 constraints) b) What is the optimal solution? Remember to provide the value of each decision variable and the objective function. c) Find the highest positive dual value and clearly explain what it means. Problem 2: A company is preparing a production plan for an item to minimize total cost for the next three months. The holding cost applied to the inventory at the end of each month is $3/item. The demand for the next three months is expected to be 500,700, and 400 units. The item can be produced using resources at plant A, at plant B and at a third party facility. The capacity and costs are shown below. Plant A Plant B Third Party Capacity 250 Items/month 300 Items/month 100 Items/month Costs $25/item $27/item $31/item a) Formulate the LP problem (Hint: 11 decision variables and 12 constraints) b) What is the optimal solution? Remember to provide the value of each decision variable and the objective function. c) Find the highest positive dual value and clearly explain what it means
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