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Use the Following Management Scientist Output to Answer the Questions

Question 47

Essay

Use the following Management Scientist output to answer the questions.
MIN
4X1+5X2+6X3
S.T.
1) X1+X2+X3<85
2) 3X1+4X2+2X3>280
3) 2X1+4X2+4X3>320
Objective Function Value = 400.000  Variable  Value  Reduced Cost  X1 0.0001.500 X2 80.0000.000 X3 0.0001.000\begin{array} { c r c } \text { Variable } & \text { Value } & \text { Reduced Cost } \\\text { X1 } & 0.000 & 1.500 \\\text { X2 } & 80.000 & 0.000 \\\text { X3 } & 0.000 & 1.000\end{array}  Constraint  Slack/Surplus  Dual Frice 15.0000.000240.0000.00030.0001.250\begin{array} { c c c } \text { Constraint } & \text { Slack/Surplus } & \text { Dual Frice } \\ 1 & 5.000 & 0.000 \\ 2 & 40.000 & 0.000 \\ 3 & 0.000 & - 1.250 \end{array}
OBJECTIVE COEFFICIENT RANGES
 Variable  Lower Limit  Current Value  Upper Limit X12.5004.000 No Upper Limit X20.0005.0006.000X35.0006.000 No Upper Limit \begin{array}{lllc}\text { Variable }&\text { Lower Limit } & \text { Current Value } & \text { Upper Limit }\\\hline\mathrm{X} 1 & 2.500 & 4.000 & \text { No Upper Limit } \\\mathrm{X} 2 & 0.000 & 5.000 & 6.000 \\\mathrm{X} 3 & 5.000 & 6.000 & \text { No Upper Limit }\end{array}
 RIGHT HAND SIDE RANGES \text { RIGHT HAND SIDE RANGES }
 Constraint  Lower Limit  Current Value  Upper Limit 180.00085.000 No Upper Limit 2 No Lower Limit 280.000320.0003280.000320.000340.000\begin{array}{cccc}\text { Constraint }&\text { Lower Limit } & \text { Current Value } & \text { Upper Limit }\\\hline1 & 80.000 & 85.000 & \text { No Upper Limit } \\2 & \text { No Lower Limit } & 280.000 & 320.000 \\3 & 280.000 & 320.000 & 340.000\end{array}
a.What is the optimal solution, and what is the value of the profit contribution?
b.Which constraints are binding?
c.What are the dual prices for each resource? Interpret.
d.Compute and interpret the ranges of optimality.
e.Compute and interpret the ranges of feasibility.

Correct Answer:

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a.x1 = 0, x2 = 80, x3 = 0, s1 = 5, s2 = 40, s...

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