Solve the following linear programming problem by Excel's Solver. Use the output to answer the questions MAX
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Question:
Solve the following linear programming problem by Excel's Solver.
Use the output to answer the questions
MAX 25X1+30X2+15X3 ST
4X1+5X2+8X3<=1200
9X1+15X2+3X3<=1500
1. What are the Binding Constraints and the Optimum amount of Objective Function?
2. What are the slack values for Constraint and Constraint 2? 3
3. Looking at the Shadow prices, how much would the objective function change by if Constraint 1 increases by 100 units?
4. What 0/0 of available Constraint 2 can be reduced without it affecting the current shadow price ?
5. Why the amount of reduced costs of and X 3 are zero?
Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
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