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The Following Linear Programming Problem Has Been Solved by the Management

Question 49

Essay

The following linear programming problem has been solved by The Management Scientist.Use the output to answer the questions.
LINEAR PROGRAMMING PROBLEM
MAX 25X1+30X2+15X3
S.T.
1)4X1+5X2+8X3<1200
2)9X1+15X2+3X3<1500
OPTIMAL SOLUTION
Objective Function Value = 4700.000  Variable  Value  Reduced Cost  X1 140.0000.000 X2 0.00010.000 X3 80.0000.000\begin{array} { c c c } \text { Variable } & \text { Value } & \text { Reduced Cost } \\\text { X1 } & 140.000 & 0.000 \\\text { X2 } & 0.000 & 10.000 \\\text { X3 } & 80.000 & 0.000\end{array}  Constraint  Slack/Surplus  Dual Price 10.0001.00020.0002.333\begin{array} { c c c } \text { Constraint } & \text { Slack/Surplus } & \text { Dual Price } \\1 & 0.000 & 1.000 \\2 & 0.000 & 2.333\end{array} OBJECTIVE COEFFICIENT RANGES  Variable  Lower Limit  Current Value  Upper Limit  X1 19.28625.00045.000 X2  No Lower Limit 30.00040.000 X3 8.33315.00050.000\begin{array} { c c c c } \text { Variable } & \text { Lower Limit } & \text { Current Value } & \text { Upper Limit } \\\text { X1 } & 19.286 & 25.000 & 45.000 \\\text { X2 } & \text { No Lower Limit } & 30.000 & 40.000 \\\text { X3 } & 8.333 & 15.000 & 50.000\end{array} RIGHT HAND SIDE RANGES  Constraint  Lower Limit  Current Value  Upper Limit 1666.6671200.0004000.0002450.0001500.0002700.000\begin{array} { c c c c } \text { Constraint } & \text { Lower Limit } & \text { Current Value } & \text { Upper Limit } \\1 & 666.667 & 1200.000 & 4000.000 \\2 & 450.000 & 1500.000 & 2700.000\end{array}
a.Give the complete optimal solution.
b.Which constraints are binding?
c.What is the dual price for the second constraint? What interpretation does this have?
d.Over what range can the objective function coefficient of x2 vary before a new solution point becomes optimal?
e.By how much can the amount of resource 2 decrease before the dual price will change?f. What would happen if the first constraint's right-hand side increased by 700 and the second's decreased by 350?

Correct Answer:

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a.x1 = 140,x2 = 0,x3 = 80,s1 = 0,s2 = 0,obj.f...

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