You are trying to create a budget to optimize the use of a portion of your disposable income. You have a maximum of $1,5
Posted: Sun Jul 03, 2022 4:25 pm
You are trying to create a budget to optimize the use of aportion of your disposable income. You have a maximum of $1,500 permonth to be allocated to food, shelter, and entertainment. Theamount spent on food and shelter alone must not exceed $800.Entertainment cannot exceed $1,100. The amount spent on shelteralone must not exceed $800. Entertainment cannot exceed $400 permonth. Each dollar spent on food has a satisfaction value of 2,each dollar spent on shelter has a satisfaction value of 3, andeach dollar spent on entertainment has a satisfaction value of5
1. Write the objective function and constraints for thisproblem
2. Assuming a linear relationship, use the Excel solver todetermine the optimal allocation of your funds
3. Report the maximum value of the objective function
1. Write the objective function and constraints for thisproblem
2. Assuming a linear relationship, use the Excel solver todetermine the optimal allocation of your funds
3. Report the maximum value of the objective function