Formulate an integer linear program that can be used for

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Reference no: EM13615042

1. Beechwood Specialty Electronics has just leased space for a store in the Crestview Hills Towne Center that will provide a storage space 20 feet long and 10 feet wide for inventory of products. They sell only IPOD%u2019s and cell phones and must determine how many of each to keep in stock to maximize their profit. Their unit cost is $47 per IPOD and $32 per cell phone and they feel they can sell all that they stock. Because of packaging and accessories, an IPOD requires dedicating .5 square feet of floor space, whereas a cell phone requires .75 square feet of floor space. An IPOD will earn Beechwood $90 in sales revenue and a cell phone will earn them $70. Marketing requirements are that at least 60% of all units in stock be IPODS. Finally, an IPOD uses up $200 in capital and a cell phone uses $50. Beechwood wants to have at most $3,000 worth of capital tied up at any time.

a. Formulate an integer linear program that can be used for Beechwoods situation.

b. Solve the problem using Excel Solver. Provide both answer and sensitivity analysis results with clear interpretation.

Reference no: EM13615042

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