Prepare the optimal solution

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Reference no: EM13217123

An investor has $500,000 to invest and wants to maximize the money they will receive at the end of one year. They can invest in condos, apartments and houses. The profit after one year, the cost and the number of units available are shown below.

Variable	Investment	Profit ($1,000)	Cost ($1,000)	Number Available
X₁	Condos	6	50	10
X₂	Apartments	12	90	5
X₃	Houses	9	100	7

a) Word-process the linear programming model below.

Variables

X₁ = Number of condos purchased

X₂ = Number of apartments purchased

X₃= Nummber of houses purchased

Objective Function

Constraints

b) Set up the spreadsheet for Excel Solver. Copy and paste the spreadsheet below.

c) Copy and paste the Answer report below.

d) Write the Optimal Solution below. Note: The Optimal Solutions should include the optimal values for the non-zero variables as well as the objective function.

Reference no: EM13217123

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