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Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey, and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint

Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey, and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter4: Linear Programming Models
Section4.8: Data Envelopment Analysis (dea)
Problem 43P
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Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey. and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint
Transcribed Image Text:Big Sur Taffy Company makes two types of candies: saltwater taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much saltwater and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy candies. For a pound of saltwater taffy, Big Sur uses 8 cups of molasses, 4 cups of honey. and 0.7 cup of butter, and the selling price is $7.50/lb. For a pound of special taffy, Big Sur uses 6 cups of molasses, 6 cups of honey. and 0.3 cup of butter, and the selling price is $9.25/lb. Taffy candies are made fresh at dawn each morning, and Big Sur uses ingredients from a very exclusive supplier who delivers 400 cups of molasses, 300 cups of honey, and 32 cups of butter once a day before sunrise. a. Formulate and solve the LP model that maximizes revenue given the constraints. What is the maximum revenue that Big Sur can generate? How much saltwater and special taffy does Big Sur make each day? Note: Round your answers to 2 decimal places. Maximum revenue How many pounds of saltwater taffy should Big Sur make? How many pounds of home-recipe taffy should Big Sur make? b. Identify the binding and nonbinding constraints and report the slack value, as appropriate. Note: If the answer to constraints is "Non-Binding" enter slack value to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint
c. Report the shadow price and the range of feasibility of each binding constraint. Note: If the answer to constraints is "Binding" enter the "Shadow price" and "Range of feasibility" to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint Shadow Price Saltwater taffy Home recipe taffy Range of Feasibility From d. What is the range of optimality for the objective function coefficients? Note: Round your answers to 2 decimal places. Range of Optimality for the Objective Function Coefficients From To To
Transcribed Image Text:c. Report the shadow price and the range of feasibility of each binding constraint. Note: If the answer to constraints is "Binding" enter the "Shadow price" and "Range of feasibility" to 2 decimal places or leave cells blank. Molasses constraint Honey constraint Butter constraint Shadow Price Saltwater taffy Home recipe taffy Range of Feasibility From d. What is the range of optimality for the objective function coefficients? Note: Round your answers to 2 decimal places. Range of Optimality for the Objective Function Coefficients From To To
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ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
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