Question: solve q3. Please use lingo (not excel solver). or just send me constraints and ill do it myself. thanks 3. (20 marks) A company buys

solve q3. Please use lingo (not excel solver). or just send me constraints and ill do it myself. thanks
solve q3. Please use lingo (not excel solver). or
3. (20 marks) A company buys fresh fish for processing. They have an annual contract with their supplier to buy up to 10,000 Tonnes at the following set of incremental prices: First 4000 Tonnes (or any fraction) may be purchased @ $2.80/kg. Next 6000 Tonnes (or any fraction) may be purchased @ $3.80/kg. Their fish processing plant can operate on a one or two shift per day basis. (Shift two operates only if shift one operates.) For each shift there is a fixed cost which exists if the shift operates, but is nil otherwise, and a variable cost per kilogram of fish processed. The costs and shift capacities are: If a shift operates at all, then the minimum amount processed is 2500 Tonnes per annum on that shift (i.e. the amount processed on any shift is either 0 or greater than or equal to 2500 Tonnes). The company sells processed fish for $5.00 per kg. They wish to know what they should do to maximize their annual profit. (a) Show the algebraic model in LINGO syntax or as an Excel file. The variables must be clearly defined using comment lines in LINGO or text lines at the top of an Excel file. Make sure that there is no confusion between kilograms and Tonnes. (b) Solve the model using LINGO or the Excel Solver. (c) State the solution in words

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!