A farmer is planning the crops that will be planted in the upcoming season. The farmer can get $353.08 per metric ton of soybean, $119.42 per metric ton of barley, $163.80 per metric ton of corn, and $212.64 per metric ton of wheat. The total capacity of the farm is 400 metric tons of product. Based on rising tariffs, at most, the soybeans should constitute 20% of the total crop. Prices for barley and wheat have been declining, so corn should at least be 175 metric tons. a. Solve the linear program using Solver and write the strategy. b. Run a sensitivity analysis and identify the constraints that are binding. c. What is the change in the objective function value if the minimum for corn was 100 metric tons and the farmer acquired land that could produce 75 more metric tons of crop?
A farmer is planning the crops that will be planted in the upcoming season. The farmer can get $353.08 per metric ton of soybean, $119.42 per metric ton of barley, $163.80 per metric ton of corn, and $212.64 per metric ton of wheat. The total capacity of the farm is 400 metric tons of product. Based on rising tariffs, at most, the soybeans should constitute 20% of the total crop. Prices for barley and wheat have been declining, so corn should at least be 175 metric tons. a. Solve the linear program using Solver and write the strategy. b. Run a sensitivity analysis and identify the constraints that are binding. c. What is the change in the objective function value if the minimum for corn was 100 metric tons and the farmer acquired land that could produce 75 more metric tons of crop?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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2) A farmer is planning the crops that will be planted in the upcoming season. The farmer can get $353.08 per metric ton of soybean, $119.42 per metric ton of barley, $163.80 per metric ton of corn, and $212.64 per metric ton of wheat. The total capacity of the farm is 400 metric tons of product. Based on rising tariffs, at most, the soybeans should constitute 20% of the total crop. Prices for barley and wheat have been declining, so corn should at least be 175 metric tons.
a. Solve the linear program using Solver and write the strategy.
b. Run a sensitivity analysis and identify the constraints that are binding.
c. What is the change in the objective function value if the minimum for corn was 100 metric tons and the farmer acquired land that could produce 75 more metric tons of crop?
Please show work in excel
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