Business Analytics HELP

zzpa05
timer Asked: Dec 5th, 2018

Question Description

Excel Response to Optimization word problem -see PDF (the PDF is the details of the assignment)

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ANL-301 Business Analytics - Fall 2018 Homework 6 - Due to 5pm December 5, 2018 An electronics company produces highly technical components. In the upcoming month, the company will consider producing four components. They are referred to merely as: XRA, XRB, CTR and FYZ. The company has contractual commitments for a minimum number of components but believe they will be able to sell as many components as they can produce. Each component must pass through four departments, wiring, drilling, assembly, and inspection. The time (in minutes) required in each department as well as the unit profit ($) for each component is described in the following table. Components XRA XRB CTR FYZ Wiring 30 90 90 60 Drilling 180 60 120 180 Assembly 120 240 60 120 Inspection unit 30 60 30 60 Profit ($) 90 120 150 110 Each department currently has a limited number of hours available for the upcoming month. The following table contains the capacities of each department in hours. Department Wiring Drilling Assembly Inspection Capacity 1300 2350 2600 1200 The contractual commitments are: • The number of XR’s (A & B combined) produced should be at least 250. • The number of CTR produced should be at least 200. • The number of FYZ produced should be at least 400. Create an LP model to solve this problem using Solver in Excel. Use the Sensitivity report to answer the following questions in a text box. If the company chose to increase the availability in the wiring department by 100 hours, what will the new profit be? If the company needs to reduce hours in the drilling department by 50 hours, what will the new profit be? If the profit on the XRA component decreases by $5, will this impact the solution? Will it impact the profit? If the profit on the XRB component increases by $13, will this impact the solution? Will it impact the profit? Submit your spreadsheet on Canvas. Good Luck!
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