Graphically solve the following problem. You need not show me the graph. However, you would need...

80.2K

Verified Solution

Question

Statistics

Graphically solve the following problem. You need not show methe graph. However, you would need to draw one to solve the problemcorrectly. You would need to indicate all the corner pointsclearly. Solve mathematically to identify the intersectionpoints.

Maximize profit = 8 x1 + 5x2   

Subject to   

x1 + x2 <=10
x1 <= 6

x1, x2 >= 0

a. What is the optimal solution?

(You may utilize QM for Windows to answer b tod)
b. Change the right-hand side of constraint 1 to 11 (instead of 10)and resolve the problem. How much did the profit increase as aresult of this?


c. Change the right-hand side of constraint 1 to 6 (instead of 10)and resolve the problem. How much did the profit decrease as aresult? Looking at the graph, what would happen if theright-hand-side value were to go below 6?

d. Change the right-hand side of constraint 1 to 5 (instead of10) and resolve the problem. How much did the profit decrease fromthe original amojnt as a result of this?

e. Examine the following output from QM. What is the dual price ofconstraint 1? What is the lower bound on this?

Linear Programming ResultsPart e
X1X2RHSDual
Maximize85
const 1
11<=105
const 210<=63
Solution  6468


Ranging

VariableValueReducedOriginal ValueLower BoundUpper Bound
X16085Infinity
X240508

Constraint
Dual ValueSlack/SurplusOriginal ValueLower BoundUpper Bound
Constraint 150106Infinity
Constraint 2306010


f. What conclusions can you draw from this regarding bounds of theright-hand-side values and the dual price?

Answer & Explanation Solved by verified expert
3.7 Ratings (408 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students