Assignment 2 Answers
Assignment Two Answers
Problem: 3-2
a. Find the optimal product mix?
The optimal product mix is as in screenshot above, fields of Number to produce:
Basic
XP
VXP
514.285714
1200
28.57143
b. If you round the values in the changing cells to the nearest integer, is the resulting solution still feasible?
No, the rounded number of Product to Produce does not generate feasible solution. In order to obtain feasible solution close to optimal, we need to set a new Integer constraint on Number to Produce which will rounded the numbers to the nearest feasible solution.
Problem 3-4
Optimal solution here is less than the optimal solution in problem 3-2.
The rounded to integer solution here does not equal the manually rounded solution in 3-2.
Problem 2-20:
Problem 3-28:
a. use solver to maximize the company’s profit?
The maximum profit is $180,000 as indicated in screenshot above.
b. Confirm graphically that the solution in part (a) maximizes the company’s profit?
c. Use SolverTable to see what happens to the decision variables and the totals profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units? How much profit would the company lose if lost any of its current 2000 units?
The company is willing to pay no more than $9,000 for extra 100 units of wood.
The company will lose $9,000 of its profit if it loses 100 units of wood of its current 2000 units.
Problem 3-33:
a. Determine how the company can meet this goal. Assume that it will not produce any units in a month that it cannot sell in that month.
By producing the following number of product for each month
The revenue is maximized as per the results:
Maximum Revenue = $20,108.57
b. Use SolverTable to see what happens if customer demands for each product in each month simultaneously change by a factor 1
Problem: 3-2
a. Find the optimal product mix?
The optimal product mix is as in screenshot above, fields of Number to produce:
Basic
XP
VXP
514.285714
1200
28.57143
b. If you round the values in the changing cells to the nearest integer, is the resulting solution still feasible?
No, the rounded number of Product to Produce does not generate feasible solution. In order to obtain feasible solution close to optimal, we need to set a new Integer constraint on Number to Produce which will rounded the numbers to the nearest feasible solution.
Problem 3-4
Optimal solution here is less than the optimal solution in problem 3-2.
The rounded to integer solution here does not equal the manually rounded solution in 3-2.
Problem 2-20:
Problem 3-28:
a. use solver to maximize the company’s profit?
The maximum profit is $180,000 as indicated in screenshot above.
b. Confirm graphically that the solution in part (a) maximizes the company’s profit?
c. Use SolverTable to see what happens to the decision variables and the totals profit when the availability of wood varies from 1000 to 3000 in 100-unit increments. Based on your findings, how much would the company be willing to pay for each extra unit of wood over its current 2000 units? How much profit would the company lose if lost any of its current 2000 units?
The company is willing to pay no more than $9,000 for extra 100 units of wood.
The company will lose $9,000 of its profit if it loses 100 units of wood of its current 2000 units.
Problem 3-33:
a. Determine how the company can meet this goal. Assume that it will not produce any units in a month that it cannot sell in that month.
By producing the following number of product for each month
The revenue is maximized as per the results:
Maximum Revenue = $20,108.57
b. Use SolverTable to see what happens if customer demands for each product in each month simultaneously change by a factor 1