a. What is the linear programming model for this problem? b. Using Microsoft Excel's Solver, find the optimal solution. How many Fliptop models and how many Tiptop models should be produced? What is the maximum profit? c. Will there be excess capacity in any resource?
Please answer the following in an organized way and showing steps.
Maxwell Manufacturing makes two models of felt tip marking pens. Requirements and available resources for each lot of pens are given in the following table:
|
Fliptop Model |
Tiptop Model |
Available |
|
|
Plastic |
3 |
4 |
36 |
|
Ink Assembly |
5 |
4 |
40 |
|
Molding Time |
5 |
2 |
30 |
The profit for either model is $1,000 per lot.
a. What is the linear programming model for this problem?
b. Using Microsoft Excel's Solver, find the optimal solution. How many Fliptop models and how many Tiptop models should be produced? What is the maximum profit?
c. Will there be excess capacity in any resource?
Use Excel's Solver and run a sensitivity report to answer the following questions:
d. Over which range can the objective function coefficient for Fliptop Models change without affecting the original optimal solution? What is this range called?
e. What is the shadow price (dual price) for the plastic constraint and how would you interpret it?
f. What is the shadow price (dual price) for the Molding Time constraint. Does the value make sense? Over which range is the shadow price valid? What is this range called?
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