Estimate the formula for the objective function

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Reference no: EM13100734

A company produces 4 different products, A, B, C, and D. All products require time in up to 5 different processing departments. The amount of time each product requires with each department is listed in the table below:

	Product A	Product B	Product C	Product D	Available
Melting	4 hrs	1 hr	2 hrs	0 hrs	250 hrs
Cooling	2 hrs	2 hrs	0 hrs	1 hr	240 hrs
Shaping	3 hrs	2 hrs	1 hr	2 hrs	220 hrs
Sanding	0 hrs	1 hr	3 hrs	3 hrs	180 hrs
Painting	1 hr	2 hrs	2 hrs	1 hr	250 hrs

Suppose product A sells for $100/unit, product B sells for $125/unit, product C sells for $75/unit, and product D sells for $90/unit. And suppose that all products have a guaranteed buyer (i.e., no matter how many are produced it will be sold for the asking price). Management has asked for your recommendations about how many of each product type to produce that maximize revenue. Finally, you must produce at least 2 of each product.

a) What is the formula for the Objective Function?

b) What are the formulas for the Resource Constraints?

c) What are the variable constraints?

d) When you solve the Linear Program, what is the optimal number of each product?

e) What is the optimal revenue?

f) Which process (melting, cooling, etc) is there excess avaiable (slack)?

g) Which process did you run out of?

h) Submit an Excel Spreadsheet in which the Linear Progam is programmed and in which

Solver has been programmed to solve the Linear Program.

Reference no: EM13100734

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