About the production problem

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Reference no: EM132259987

Consider the following production problem. A furniture company builds tables and chairs using only wood and nails. Each table requires 4 planks of wood and 2 boxes of nails. Each chair requires 1 plank of wood and 2 boxes of nails. The company currently has 2000 planks of wood and 1200 boxes of nails. Each table you build can be sold for $100 and each chair can be sold for $40.

a) Formulate a Linear Program that will solve this problem. (Assume that you can build fractional tables and chairs.) and formulate the dual for this program. Solve the Dual in Excel.

Without solving the primal Linear Program, what is the maximum revenue the company can make? How do you know?

In one concise sentence, explain what the dual variables represent with respect to the original problem.

The company realizes that it actually has one more plank of wood. Without solving another LP, what is the new maximum revenue?

If the company instead had to pay $15 for an additional plank of wood, should it do so? What if it had to pay $15 more for an additional box of nails?

Reference no: EM132259987

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