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Instructions: Answer each question. Use Lindo to solve all problems. Show all work by describing variables, stating assumptions, illustrating model and showing output solution to the problem. Software is available for free download at https://www.lindo.com/index.php/ls-downloads/try-lingo
1. First West Chemical
First West Chemical Company produces two chemical ingredients for pharmaceutical firms; formula X and formula Y. Production of each ingredient requires two processes. A unit of Formula X requires 4 hours in process 1 and 3 hours in process 2. A unit in formula Y requires 2 hours in process 1 and 5 hours in process 2. The normal operating production times for the two processes are as follows: process 1, 70 hours and process 2, 60 hours. The production process of formula X results in one unit of a by-product called XZ. Four (4) units of X produce 1 unit of XZ. The production process for formula Y yields 5 units of a by-product, YK for each unit of formula Y. The unit profits for formulas X and Y are $10,000 and $15,000 respectively. By products XZ yields $6000 unit profit. By product YK yields a $3000 unit profit for up to 15 units. Because of the limited market and the danger involved in handling the material, any by product YK in excess of 15 units must be destroyed at a unit cost of $4,000. Also due to storage regulations, no more than 15 units of Formula X can be produced.
The management at this chemical company has established the following goals in order of importance:
First Goal Achieved (yes, no)
Second Goal Achieved (yes, no)
Third Goal Achieved (yes, no)
Fourth Goal Achieved (yes, no)
Fifth Goal Achieved (yes, no)
Sixth Goal Achieved (yes, no)
Production amount of Formula X at conclusion
Production amount of Formula Y at conclusion
Production amount of By Product YK at conclusion
Production amount of By Product XZ at conclusion
Profit at conclusion
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