Johns Hopkins University Objective Function Values & Decision Variables Worksheet
Question Description
I’m working on a excel question and need an explanation to help me study.
First problem is: Graph the following LP problem and indicate the optimal solution point: Maximize profit= $3X + 2Y Subject to 2X+ Y ? 150 2X + 3Y ? 300 a) Does the optimal solution change if the profit per unit of X changes to $4.50? b ) What happens if the profit function should have been $3X + 3Y?
Second problem is: Consider the following LP problem:
Maximize profit = 5X =6Y
Subject to 2X+Y= 120
2X+ 3Y = 240
X,Y= 0
A) What is the optimal solution to this problem? Solve it using solver.
B) If a technical breakthrough occurred that raised the profit per unit of X to $8, would this affect the optimal solution?
C) Instead of an increase in the profit coefficient X to $ 8, suppose that profit was overestimated and should only have been $ 3. Does this change the optimal solution?
Both of these are supposed to be done in Excel Solver. I’m not sure how to do this in Excel Solver. The Excel Solver template is attached but I’m sure I’m doing something wrong.
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