2. Problem A-7 (Algo)You are trying to create a budget to optimize the use of a portion of yourdisposable income. You have a maximum of $1,500 per month to beallocated to food, shelter, and entertainment. The amount spent on foodand shelter combined must not exceed $1,000. The amount spent onshelter alone must not exceed $70O. Entertainment cannot exceed $700per month. Each dollar spent on food has a satisfaction value of 7, eachdollar spent on shelter has a satisfaction value of 7, and each dollar spenton entertainment has a satisfaction value of 3.Assuming a linear relationship, use the Excel Solver to determine theoptimal allocation of your funds. (Leave no cells blank - be certain toenter "O" wherever required. Round your answers to the nearest wholenumber.)Decision for FDecision for SDecision for ETotal SatisfactionResourcesUsedTotal budget$ on food and shelter$ on shelter$ on entertainment

F= Dollars spent on Food S = Dollar spent on Shelter E = Dollar spent on Entertainment

Answered: Problem A-7 (Algo) You are trying to…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter5: Network Models

Section5.5: Shortest Path Models

Problem 30P

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