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1. Consider the following objective function for a linear programming model with decision variables x1 and x2:
Minimize Cost = 5x1 - x2
a. Draw a graph that shows the corresponding objective function lines for Cost = 300, Cost = 200, and Cost = 100.
b. Find the slope-intercept form of the equation for each of these three objective function lines. Compare the slope for these three lines. Also compare the intercept with the x2 axis.
Find the price such that only 20% of gas stations charge more than that price.
We went over it in class and I am so confused as the steps to find the solution and how to write out the actual equation you type into your calculator.
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