Given the following output for the optimal solution for a 4 variable (named BR, IC, COLA, and PC) and a 4 resource(constraint) problem; where the optimal objective function value is 1000 (and it is a maximization problem). Please write ashort summary that answers the following questions:• How much would you pay for an additional unit of Resource 2 (Constraint 2)?• Suppose you were to acquire 150 additional units of Resource 1 (Constraint 1), what would your new objective valuebe?In your follow-up posts please clarify any issues or justify your answers.Variable CellsCellNameFinal Value Reduced Cost Objective Coefficient Allowable Increase Allowable Decrease$B$2 Variabies BR-3050301E+30$C$2 Variables IC-2020201E+30$D$2 Variables COLA33.333333301E+306$E$2 VariabiesPC-2080201E+30ConstraintsCellNameFinal ValueShadow PriceConstraint R.H. SideAllowable IncreaseAllowable Decrease$F$5 Resource 15005001E+30380$F$6 Resource 21E+30$F$7 Resource 3133.3333310123.33333331E+30$F$8 Resource 433.3333338.25.333333331E+30

Resource 2 has a final value of 0 and a shadow price of 0. It has an allowable increase of so much…

Answered: • How much would you pay for an…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Please do not give solution in image formate thanku. Hoosier Power needs to determine a capacity expansion plan to meet Bloomington’s power needs for the next 20 years. The current capacity is 5,000 kWh. The demand for the current year is 4,000 kWh, and demand is expected to increase by 1,000 kWh in each succeeding year. At the beginning of each year, Hoosier Power must determine the amount of capacity to add, given the following inputs: Any year in which capacity is added, a fixed cost of $120,000 is incurred plus a cost of $120 per kWh of capacity; At most 10,000 kwh of capacity can be added in a single year; It costs $24 per year to maintain a unit of capacity; It costs $12 per year to produce one kWh; If production does not meet demand, a shortage cost of $75 per kWh short is incurred. Hoosier Power wants to determine a capacity expansion plan with the minimal total cost to meet Bloomington’s power needs for the next 20 years. Define the decision variables and write down the…
Maximize profit = 4X + 4Y Subject to: 3X +5Y ≤ 150 X – 2Y ≤ 10 5X + 3Y ≤ 150 X, Y ≥ 0 Required: a- The corner point method to obtain the optimal point. b- Specify the profit value. c- Calculate the Slack for each constraint and state its formula.
Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircutsand hairstyling2017 11,5002018 12,2002019 13,4002020 14,0002021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds…
Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircuts and hairstyling 2017 11,500 2018 12,200 2019 13,400 2020 14,000 2021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds ofmanagement what they want to achieve and what they would like to be in the future.Currently, customers can walk in at any time to be served. At times, customers have to…
Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircutsand hairstyling2017 11,5002018 12,2002019 13,4002020 14,0002021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds…
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Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircuts and hairstyling2017 11,5002018 12,2002019 13,4002020 14,0002021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds ofmanagement what they want to achieve and what they would like to be in the future. Currently, customers can walk in at any time to be served. At…
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Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircuts and hairstyling 2017 11,500 2018 12,200 2019 13,400 2020 14,000 2021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds ofmanagement what they want to achieve and what they would like to be in the future.Currently, customers can walk in at any time to be served. At times, customers have to…
Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircuts and hairstyling 2017 11,500 2018 12,200 2019 13,400 2020 14,000 2021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds ofmanagement what they want to achieve and what they would like to be in the future.Currently, customers can walk in at any time to be served. At times, customers have to…
Cutey Barber Salon is a trendy barber salon that is located in a densely populated city called Maple.Demand for the services offered by the salon is fairly high. It offers services such as haircuts, hairstyling, scalp massaging and conditioning treatment, straight razor and wet shave, beard sculpting,facials and hair colouring. In addition to these services provided, the salon sells premium hair productsto customers. The salon has the ability to produce a maximum of 20,000 haircuts and hairstyling peryear. Demand for haircuts and hairstyling over the last five years can be seen in the following table:- Year Demand for haircuts and hairstyling 2017 11,500 2018 12,200 2019 13,400 2020 14,000 2021 14,500 Although the business does not have a written vision and mission statement, it is clear in the minds ofmanagement what they want to achieve and what they would like to be in the future.Currently, customers can walk in at any time to be served. At times, customers have to…
A plant has sufficient capacity to manufacture any combination of four different products (A, B, C, D). For each product, time is required to be invested in four different machines, which is expressed in hours per kilogram of product, as shown in the following table as shown in the following table: (attached image) Each machine has an availability of 60 hours per week. Products A, B, C and D can be sold at $9, $7, $6 and $5per kilo, respectively. Variable labor costs are $2 per hour for machines 1 and 2, and $3 per hour for machines 3 and 4. The material costs for each kilogram of product A are $4. The material costs for each kilogram of products B, C, D and D are $4 each kilogram of products B, C and D are $1. What needs to be done:Formulate a profit-maximizing PL model given the maximum demand per product shown in the table (there are 16 variables). Note: The picture is in spanish, but I mean... is pretty easy to understand

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• How much would you pay for an additional unit of Resource 2 (Constraint 2)? • Suppose you were to acquire 150 additional units of Resource 1 (Constraint 1), what would your new objective value be?