2.1) On the solution graph, use a dashed line to demonstrate how the optimal solution is to be found. 2.2) Identify or calculate the value of one or more optimal solutions (x¡ ,x;) at the corner(s) of the feasible region. 2.3) Calculate the corresponding optimal objective function value Z (xj ,x;). 2.4) If you have found more than one corner optimal solution of this LP problem, indicate how many optimal solutions it has and indicate where these optimal solutions can be found.
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- If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?1. If constraint has a shadow price of $6, Right-Hand-Side (RHS) is 12, allowable increase is 2, allowable decrease is 4. How would objective function change if the RHS of this constrains changes from 12 to 9? Answer___________
- Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs $100 and provides an annual rate of return of 4%. The client wants to minimize risk subject to the requirement that the annual income from the investment be at least $60,000. According to Innis' risk measurement system, each unit invested in the stock fund has a risk index of 8, and each unit invested in the money market fund has a risk index of 3. The higher risk index associated with the stock fund simply indicates that it is the riskier investment. Innis's client also specified that at least $300,000 be invested in the money market fund. Refer to the computer solution shown below. Optimal…1. Write a linear program for the problem. 2. What is the optimal production mix among different coffee varieties and the profit associated with it? 3. What should be the per bag profit of Tarrazu which will make it beneficial to produce this variety? 4. One Cup is considering increasing the weekly bags to 150. If it costs One Cup $3.00 per bag to procure beans of any variety. Conduct sensitivity analysis and determine if One Cup should consider increasing the per week production. 5. Identify the range over which per bag profit of Sumatra and Kona may vary and still retain the current production plan as optimal for One Cup. 6. Once roasted the coffee beans must be preserved properly. To ensure that, One Cup Coffee is considering investing in a vacuum packaging machine for 24 hours/ week. It takes 10, 15 and 10 minutes to pack a bag of Sumatra, Kona and Tarazzu respectively. Identify if the current production plan will suit the installation of the new packaging scheme.Suppose we are solving a maximization problem andthe variable xr is about to leave the basis.a What is the coefficient of xr in the current row 0?b Show that after the current pivot is performed, thecoefficient of xr in row 0 cannot be less than zero.c Explain why a variable that has left the basis on agiven pivot cannot re-enter the basis on the next pivot.
- Consider the following linear programming model: maximize Z = 3x1 + 2x2 subject to : x1 +x2 ≤ 1 x1 + x2 ≥ 2 x1,x2 ≥ 0 a) Write this model in a standard (augmented) form. (i.e. Introduce slack/surplus, artificial etc.)b) Constract the initial simplex tableau and carry on your calculations to solve this model using the simplex method. Interpret your result.Solve the following Linear Programming model using the graphical method (USING EXCEL){Write the steps of construction} Q1)MaximizeH = x + 3y Objective functionsubject tox + y ≤ 502x + y ≤ 60 x ≥ 0, y ≥ 0Simplex Method Write in normal form and solve by the simplex method, assuming x, to be nonnegative. 1. The owner of a shop producing automobile trailers wishes to determine the best mix for his three products: flat-bed trailers, economy trailers, and luxury trailers. His shop is limited to working 24 days/month on metal- working and 60 days/month on woodworking for these products. The following table indicates production data for the trailers. Usage per unit of trailer Flat-bed Economy Luxury Available resources 1 2 1 24 Metal work days Wood work days Contribution (Rx100) 60 4 6 2 14 13
- 2(a) The tableau is not optimal for either maximization or a minimization problem. Thus, when a non-basic variable enters the solution it can either increase or decrease Z or leave it unchanged, depending on the parameters of the entering non basic variable. Basic x1 X2 X3 X4 X5 X6 X7 X8 solution -5 4 -1 -10 620 X8 3 -2 -3 -1 1 12 X3 1 1 3 1 3 X1 1 -1 -4 (i)Categorize the variables as basic and non-basic and provide the current values of all the variables. (ii)Assuming that the problem is of the maximization type, identify the non- basic variables that have the potential to improve the value of Z. If each such 3 variable enters the basic solution, determine the associated leaving variable, if any, and the associated change in Z. (iii)Repeat part (b) assuming that the problem is of the minimization type. (iv)Which non basic variable(s) will not cause a change in the value of Z when selected to enter the solution? (b) Let xij be the amount shipped from source i to destination j in a 5X5…Consider the following LP problem: Min 6X+ 27Y Subject to : 2 X + 9Y => 25, and X + Y <= 75. Pick a suitable statement for this problem: a. X=37.5, Y=37.5 is the only optimal solution. b. Optimal Obj. function value is 75 c. X = 0, Y = 0 is the only optimal solution. d. Optimal Obj. function value is 0Determine the pivot element in the simplex tableau. (If there is more than one correct pivot element, choose the element with the smaller row number.) X1 X2 X3 S1 S2 3 4 2 1 15 1 20 -8 -3 10 1 row column N O O