- 2 What Is The Optimal Solution For The Above Problem What Is Its Value 12 Mark Click Or Tap Here To Enter Text 3 T 1 (48.7 KiB) Viewed 20 times
- 2 What Is The Optimal Solution For The Above Problem What Is Its Value 12 Mark Click Or Tap Here To Enter Text 3 T 2 (57.36 KiB) Viewed 20 times
- 2 What Is The Optimal Solution For The Above Problem What Is Its Value 12 Mark Click Or Tap Here To Enter Text 3 T 3 (57.36 KiB) Viewed 20 times
- 2 What Is The Optimal Solution For The Above Problem What Is Its Value 12 Mark Click Or Tap Here To Enter Text 3 T 4 (49.13 KiB) Viewed 20 times
- 2 What Is The Optimal Solution For The Above Problem What Is Its Value 12 Mark Click Or Tap Here To Enter Text 3 T 5 (48.65 KiB) Viewed 20 times
Problem Flair Furniture produces inexpensive tables and chairs. Processes are similar, both require carpentry work and painting and varnishing - Each table takes 4 hours of carpentry and 2 hours of painting and varnishing - Each chair requires 3 of carpentry and 1 hour of painting and varnishing - There are 240 hours of carpentry time available and 100 hours of painting and varnishing - Each table yields a profit of $70 and each chair a profit of $50 The company wants to determine the best combination of tables and chairs to produce to reach the maximum profit Flair Furniture Company Data Department Carpentry (hrs/unit) Painting and varnishing (hrs/unit) Profit per ($/Unit) Tables Chairs Available Hours T с This week 3 240 hours 100 hours 70 50 2 1 Decision Variables: T = number of tables to be produced per week C = number of chairs to be produced per week Objective Function: Maximize profit = $70T + $50C Non-Negativity T20; C 20 Page 1 of 3 Constraints: Carpentry time used s Carpentry time available 4T + 3C S 240 (hours of carpentry time) Painting and varnishing time used s Painting and varnishing time available 2T+ 10 100 (hours of painting and varnishing time) Question 1: Solve the above Model using Excel solver. 17 Marks)
Question 2: Generate sensitivity analysis and answer report using Excel solver. Question 3: Use the below sensitivity report to answer the following questions. I /1 Marks) /17 Marks) Variable Cells Name Cell $B$5 T $C$5 C Final Reduced Objective Allowable Allowable Value Cost Coefficient Increase Decrease 30 0 70 30 3.333333333 o 50 2.5 15 40 Constraints Final Shadow Constraint Allowable Allowable Name Value Price R.H. Side Increase Decrease $B$14 hours of Carpentery LHS 240 15 60 40 $B$15 hours of painting and varnishing LHS 100 5 20 20 Cell 240 100 Slack Constraints Cell Name all Valu Formula Status $B$14 hours of Carpentery LHS 240 $B$14<=<Binding $B$15 hours of painting and varnishing LHS 100 $B$15<=<Binding 0 0 1. Conduct a sensitivity analysis for the different parameters of the developed model /6 Marks) ci? Click or tap here to enter text. bi? Click or tap here to enter text. ai? Click or tap here to enter text. Page 2 of 3
2. What is the optimal solution for the above problem? What is its value? [ 12 Mark] Click or tap here to enter text. 3. There is high demand on tables. Therefore, to benefit from the advantage of the high demand, we have to take an action and increase the unit profit of the tables. Your manager decided to increase the profit to 85: /2 Mark] a) What would be the result of this act on the number of tables and chairs? show your answer. Click or tap here to enter text. [ /1 Mark) b) By how much the profit will increase? show your answer. Click or tap here to enter text. 4. There is low demand on chairs. Therefore, your manager decided to decrease the unit profit to 30. What would be the result of this act? Write your justification? show your answer. /2 Mark) Click or tap here to enter text. 5. Is there national holiday this week, and the working hours for carpentry hours only has been decreased by 20 hours. What would be the result of this act on the profit? show your answer. 12 Mark) Click or tap here to enter text. 6. The hours of painting and varnishing has been increased by 10%. What would be the result of this act on the profit? show your answer. /2 Mark) Click or tap here to enter text.