In the optimal solution to the Great Threads model, no pants are produced. Suppose Great Threads has an order for 300 pairs of pants that must be produced. Modify the model appropriately and use Solver to find the new optimal solution. (It is enough to put a lower bound of 300 on the production quantity in cell D16? Will this automatically force the binary value in cell D14 to be 1? Explain?) How much profit does the company lose because of having to produce pants?

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.