How wach dollar spent on food has a satisfaction value

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Q. You are trying to create a budget to optimize the use of a portion of your disposable income. You have a maximum of $1,500 per month to be allocated to food, shelter, also entertainment. The amount spent on food also shelter combined must not exceed $1,000. The amount spent on shelter alone must not exceed $700. Entertainment cannot exceed $300 per month. Each dollar spent on food has a satisfaction value of 2, each dollar spent on shelter has a satisfaction value of 3, and also each dollar spent on entertainment has a satisfaction value of 5. Assuming a linear relationship, use the Excel Solver to determine the optimal allocation of your funds.

Reference no: EM1396376

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