The LP model and output below represent a problem whose solution will tell a specialty retailer how many of four different styles of umbrellas to stock in order to maximize profit. It is assumed that every one stocked will be sold. The variables measure the number of women's (X1), golf (X2), men's (X3), and folding umbrellas (X4), respectively. The constraints measure storage space in units (Constraint 1), special display racks (Constraint 2), demand (Constraint 3), and a marketing restriction (Constraint 4), respectively.  There is nothing you need to solve for this problem.  All questions below can be answered by the output. MAX 5 X1 + 7 X2 + 6 X3 + 4.5 X4 SUBJECT TO   1)  2 X1 + 3 X2 + 3 X3 + X4 <= 120   2)  1.5 X1 + 2 X2 <= 54   3)  2 X2 + X3 + X4 <= 72   4)  X2 + X3 >= 12

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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The LP model and output below represent a problem whose solution will tell a specialty retailer how many of four different styles of umbrellas to stock in order to maximize profit. It is assumed that every one stocked will be sold. The variables measure the number of women's (X1), golf (X2), men's (X3), and folding umbrellas (X4), respectively. The constraints measure storage space in units (Constraint 1), special display racks (Constraint 2), demand (Constraint 3), and a marketing restriction (Constraint 4), respectively.  There is nothing you need to solve for this problem.  All questions below can be answered by the output.

MAX 5 X1 + 7 X2 + 6 X3 + 4.5 X4

SUBJECT TO

 

1)  2 X1 + 3 X2 + 3 X3 + X4 <= 120

 

2)  1.5 X1 + 2 X2 <= 54

 

3)  2 X2 + X3 + X4 <= 72

 

4)  X2 + X3 >= 12

 

 

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