Specify decision variables, objective function and constraints.

Create spreadsheet model and use solver to find optimal solution. Do it very clearly

1) Fry's Electronics sells two popular models of portable retro radios, model A and model B. The sales of these products are not independent of each other (in economics, we call these substitutable products, because if the price of one increases, sales of the other will increase). A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: NA=200.62PA+0.30PBNB=29+0.10PA0.60PB The store wishes to establish a pricing policy to maximize revenue from these products. A. Provide the complete nonlinear programming formulation. Clearly specify decision variables, objective function and constraints. B. Create a spreadsheet model for the problem and use Solver to find the optimal solution. Separate input data from calculations. Include all the input data provided in the Word problem and use Excel to perform calculations. a. Provide a screenshot of the model. Use '=FORMULATEXT' to show the calculation for the objective function and the left hand side of the constraints. b. Provide a screenshot of the Answer Report including the top section with the log from Solver. C. What are the optimal prices and the maximum total revenue? Communicate the recommendation in plain English. It is acceptable to use tables for clarity. 1) Fry's Electronics sells two popular models of portable retro radios, model A and model B. The sales of these products are not independent of each other (in economics, we call these substitutable products, because if the price of one increases, sales of the other will increase). A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: NA=200.62PA+0.30PBNB=29+0.10PA0.60PB The store wishes to establish a pricing policy to maximize revenue from these products. A. Provide the complete nonlinear programming formulation. Clearly specify decision variables, objective function and constraints. B. Create a spreadsheet model for the problem and use Solver to find the optimal solution. Separate input data from calculations. Include all the input data provided in the Word problem and use Excel to perform calculations. a. Provide a screenshot of the model. Use '=FORMULATEXT' to show the calculation for the objective function and the left hand side of the constraints. b. Provide a screenshot of the Answer Report including the top section with the log from Solver. C. What are the optimal prices and the maximum total revenue? Communicate the recommendation in plain English. It is acceptable to use tables for clarity