Question: The LP problem whose output is below determines how many necklaces, bracelets, rings, and earrings a jewelry store should stock. The objective function measures profit;

The LP problem whose output is below determines how many necklaces, bracelets, rings, and earrings a jewelry store should stock. The objective function measures profit; it is assumed that every piece stocked will be sold. Constraint 1 measures display space in units, constraint 2 measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions. (15) LINEAR PROGRAMMING PROBLEM MAX 100X1 +120X2+150X3+125X4 S.T. 1) X1+2X2+2X3+2X450 OPTIMAL SOLUTION OPTIMAL SOLUTION Objective Function Value = 7475.000 Variable Value Reduced Cost Necklaces 8.000 0.000 Bracelets 0.000 5.000 Rings 17.000 0.000 Earrings 33.000 0.000 Constraint Slack/Surplus Shadow price 0.000 75.000 63.000 0.000 0.000 25.000 0.000 -25.000 OBJECTIVE COEFFICIENT RANGES OBJECTIVE COEFFICIENT RANGES Variable Allowable Decrease Current Value Allowable Increase Necklaces 12.500 100.000 No Upper Limit Bracelets No Lower Limit 120.000 5.000 Rings 25.000 150.000 12.500 Earrings 5.000 125.000 25.000 RIGHT HAND SIDE RANGES Constraint Allowable Decrease Current Value Allowable Increase 8.000 108.000 15.750 WN - 63.000 120.000 No Upper Limit 33.000 17.000 25.000 8.500 50.000 4.000 Use the output to answer the following questions, Use the output to answer the following questions. How many necklaces should be stocked? Now many bracelets should be stocked? How many rings should be stocked? How many earrings should be stocked? How much space will be left unused? How much time will be used? g. By how much will the second marketing restriction be exceeded? h. What is the profit? To what value can the profit on necklaces drop before the solution would change? j. By how much can the profit on rings increase before the solution would change? SOFulOI VOMIC SHIH99 By how much can the profit on rings increase before the solution would change? k. By how much can the amount of space decrease before there is a change in the profit? You are offered the chance to purchase more space. The offer is for 15 units and the total price is $1500. What should you do? Explain. 1 A, B 1 E s @ s

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