Maximize profit from available land and budget

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Reference no: EM133836074

Question

A storage facility is being built, and the goal is to maximize profit from the available land and budget. The profit, space requirements, and costs associated with large outdoor and small indoor storage spaces are given below. Details: Profit: Large outdoor storage space: $40 per unit per month Small indoor storage space: $25 per unit per month Land required: Large outdoor storage space: 90 sq ft per unit Small indoor storage space: 50 sq ft per unit Available land: 5000 sq ft Construction cost: Large outdoor storage space: $60 per unit Small indoor storage space: $120 per unit Available budget: $10,000 Maximum number of large outdoor storage spaces:

Questions

Formulate the linear programming model for the storage facility based on the given information. Solve the linear programming problem using the Excel QM plugin and determine the number of large outdoor and small indoor storage spaces that should be developed to maximize the monthly revenue.

Reference no: EM133836074

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