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Help me study for my Business class. I’m stuck and don’t understand.
PLEASE PLEASE I KNOW YOU PROBABLY ALREADY KNOW WHAT TO DO BUT BE AS CLOSE AS POSSIBLE TO THE explaination BELOW PLEASE!!!! I NEED GOOD GRADE
13-7. Klein Industries manufactures three types of portable air
compressors: small, medium, and large, which have unit profits of
$20.50, $34.00, and $42.00, respectively. The projected monthly sales
are:
Small Medium Large
Minimum 14,000 6,200 2,600
Maximum 21,000 12,500 4,200
The production process consists of three primary activities: bending and forming, welding, and painting. The amount of time in minutes needed to process each product in each department is shown below:
Small Medium Large Available Time
Bending/forming 0.4 0.7 0.8 23,400
Welding 0.6 1.0 1.2 23,400
Painting 1.4 2.6 3.1 46,800
How many of each type of air compressor should the company produce to maximize profit?
a. Formulate and solve a linear optimization model using the auxiliary variable cells method and write a short memo to the production manager explaining the sensitivity information.
b. Solve the model without the auxiliary variables and explain the relationship between the reduced costs and the shadow prices found in part a.
http://www.youtube.com/watch?v=Oyc0k9kiD7o
Given that many of you had issues downloading and setting up Premium Solver's 15-day trial version, I will give you full credit for the homework assignment if you do the following:
If you are able to provide sensitivity and shadow price analysis, you will receive extra credit - up to 15 additional points.
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