What is the formula for the objective function

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Reference no: EM13334206

A company produces 3 different products, A, B, and C. 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 BProduct C Available

Process #1 2 hrs 8 hr 0 hrs 1,100 hrs

Process #2 3 hrs 6 hrs 9 hrs 1,140 hrs

Process #3 10 hrs 7 hrs 1 hr 1,120 hrs

Process #4 1 hrs 5 hr 3 hrs 1,170 hrs

Process #5 4 hr 3 hrs 2 hrs 1,150 hrs

Suppose product A sells for $125/unit, product B sells for $175/unit, and product C sells for $100/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), and that you must produce at least 10 of each product.

1. What is the formula for the objective function?

2. Please list all constraints

3. What is the maximum revenue to be generated for this configuration?

4. How many each product should be produced that maximizes revenue?

Reference no: EM13334206

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