Refer to the following hypothetical situation to come up with a linear programming solution maximizing profit for a local ice-cream shop. The objective: On average, you get $1 in revenue from every pound of ice cream you sell. You get $5 for every ice cream cake (neglect the cake size here) you sell in the market. You need to bring in as much revenue as you can to keep your shop running on a day-to-day basis. The decisions: You need to figure out what mix of ice creams (per pound) and the number of ice cream cakes to produce each month to maximize total profit. The constraints: It costs $0.5 or 50 cents to produce a pound of ice cream and $4 to produce one ice cream cake (on average). You have a budget of $100 per day to devote to producing new products for sale. You must also store this stuff in your 10 cubic meter freezer. Every pound of ice cream takes up .1 cubic meters once packed, and every cake (on average) takes up 0.25 cubic meters. You can’t store these products elsewhere or they will spoil. Part 1. Represent this problem as a polytope and graph the feasible region for this problem. Use excel to plot the graph. Part 2. Use Excel to solve this optimization problem using linear programming. q1. using hand . q1 excel

Operations Research : Applications and Algorithms

4th Edition

ISBN:9780534380588

Author:Wayne L. Winston

Publisher:Wayne L. Winston

Chapter23: Simulation With The Excel Add-in @risk

Section: Chapter Questions

Problem 8RP

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Refer to the following hypothetical situation to come up with a linear programming solution maximizing profit for a local ice-cream shop.
1. The objective: On average, you get $1 in revenue from every pound of ice cream you sell. You get $5 for every ice cream cake (neglect the cake size here) you sell in the market. You need to bring in as much revenue as you can to keep your shop running on a day-to-day basis.
2. The decisions: You need to figure out what mix of ice creams (per pound) and the number of ice cream cakes to produce each month to maximize total profit.
3. The constraints: It costs $0.5 or 50 cents to produce a pound of ice cream and $4 to produce one ice cream cake (on average). You have a budget of $100 per day to devote to producing new products for sale. You must also store this stuff in your 10 cubic meter freezer. Every pound of ice cream takes up .1 cubic meters once packed, and every cake (on average) takes up 0.25 cubic meters. You can’t store these products elsewhere or they will spoil.

Part 1. Represent this problem as a polytope and graph the feasible region for this problem. Use excel to plot the graph.

Part 2. Use Excel to solve this optimization problem using linear programming.

q1. using hand . q1 excel

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