4. Reconsider the model in Problem 3 with objective function Maximize Z = C₁x₁ + ₂x₂, whereC₁ ≥ 0, C₂ ≥ 0. Use the sensitivity analysis on the objective coefficients to answer the followingquestions.(a) Find the range of 1, such that the optimal solution remains as (x₁,x₂) = (3,4).C₂(b) Find the range ofsuch that the optimal solution remains as (x₁, x₂) = (4, 2).(c) Find the range ofsuch that the optimal solution remains as (x₁, x₂) = (0,5).(d) If c₁ and c₂ are allowed to be negative, find the conditions on c₁ and C₂, and the range ofsuch that the optimal solution remains as (x₁, x₂) = (4,0).C₂Question 3 is given as follows:3. Consider the following problem.Maximize Z = 3x₁ + 2x₂,subject toX1(resource 1)<4x₁ + 3x₂15(resource 2)2x₁ + x₂ 10 (resource 3)and x₁ ≥ 0, x₂ ≥ 0, x3 ≥ 0.The optimal solution is (x₁, x₂) = (3,4) with Z* = 17.(a) Is any of these three constraints binding constraint?(b) Use graphical analysis to determine the shadow pricesfor the respective resources.314

Note: - Since the exact question that has to be answered is not specified we will answer the first…

Answered: 4. Reconsider the model in Problem 3…

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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