Question: Show me the steps to solve using Lingo. Step by Step Solution Question 6 A: A large sporting goods store is placing an order for
Show me the steps to solve using Lingo. Step by Step Solution
Question A:
A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl's Sea Sprite, and the boy's Trail Blazer. It is assumed that every bike ordered will be sold, and their profits, respectively, are and The LP model should maximize profit. There are several conditions that the store needs to worry about. One of these is space to hold the inventory. An adult's bike needs two feet, but a child's bike needs only one foot. The store has feet of space. There are hours of assembly time available. The child's bike need hours of assembly time; the Open Trail needs hours and the Cityscape needs hours. The store would like to place an order for at least bikes.
aFormulate a model for this problem.
bSolve your model with any computer package available to you.
cHow many of each kind of bike should be ordered and what will the profit be
dWhat would the profit be if the store had more feet of storage space?
eIf the profit on the Cityscape increases to $ will any of the Cityscape bikes be ordered?
fOver what range of assembly hours is the dual price applicable?
gIf we require more bikes in inventory, what will happen to the value of the optimal solution?
hWhich resource should the company work to increase, inventory space or assembly time?
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