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The LP Problem Whose Output Follows Determines How Many Necklaces,bracelets,rings,and

Question 54

Essay

The LP problem whose output follows determines how many necklaces,bracelets,rings,and earrings a jewelry store should stock.The objective function measures profit; it is assumed that every piece stocked will be sold.Constraint 1 measures display space in units,constraint 2 measures time to set up the display in minutes.Constraints 3 and 4 are marketing restrictions.
LINEAR PROGRAMMING PROBLEM
MAX 100X1+120X2+150X3+125X4
S.T.
1)X1+2X2+2X3+2X4<108
2)3X1+5X2+X4<120
3)X1+X3<25
4)X2+X3+X4>50
OPTIMAL SOLUTION
Objective Function Value = 7475.000  Variable  Value  Reduced Cost  X1 8.0000.000 X2 0.0005.000 X3 17.0000.000 X4 33.0000.000\begin{array} { c r c } \text { Variable } & \text { Value } & \text { Reduced Cost } \\\text { X1 } & 8.000 & 0.000 \\\text { X2 } & 0.000 & 5.000 \\\text { X3 } & 17.000 & 0.000 \\\text { X4 } & 33.000 & 0.000\end{array}  Constraint  Slack/Surplus  Dual Price 10.00075.000263.0000.00030.00025.00040.00025.000\begin{array} { c c r } \text { Constraint } & \text { Slack/Surplus } & \text { Dual Price } \\\hline1& 0.000 & 75.000 \\2 & 63.000 & 0.000 \\3 & 0.000 & 25.000 \\4 & 0.000 & - 25.000\end{array} OBJECTIVE COEFFICIENT RANGES  Variable  Lower Limit  Current Value  Upper Limit  X1 87.500100.000 No Upper Limit  X2  No Lower Limit 120.000125.000 X3 125.000150.000162.500 X4 120.000125.000150.000\begin{array} { c c c c } \text { Variable } & \text { Lower Limit } & \text { Current Value } & \text { Upper Limit } \\\text { X1 } & 87.500 & 100.000 & \text { No Upper Limit } \\\text { X2 } & \text { No Lower Limit } & 120.000 & 125.000 \\\text { X3 } & 125.000 & 150.000 & 162.500 \\\text { X4 } & 120.000 & 125.000 & 150.000\end{array} RIGHT HAND SIDE RANGES  Constraint  Lower Limit  Current Value  Upper Limit 1100.000108.000123.750257.000120.000 No Upper Limit 38.00025.00058.000441.50050.00054.000\begin{array} { c c c c } \text { Constraint } & \text { Lower Limit } & \text { Current Value } & \text { Upper Limit } \\1 & 100.000 & 108.000 & 123.750 \\2 & 57.000 & 120.000 & \text { No Upper Limit } \\3 & 8.000 & 25.000 & 58.000 \\4 & 41.500 & 50.000 & 54.000\end{array} Use the output to answer the questions.
a.How many necklaces should be stocked?
b.Now many bracelets should be stocked?
c.How many rings should be stocked?
d.How many earrings should be stocked?
e.How much space will be left unused?f. How much time will be used?g. By how much will the second marketing restriction be exceeded?

Correct Answer:

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a.8
b.0
c.17
d.33
e.0
f.57
g.0...

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