Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 07 Aug 2017 My Price 5.00

linear programming

The linear programming formulation of this problem is as follows:

Maximise Z = 30X1 + 40X2 + 35X3

3X1 + 4X2 + 2X3

2X1 + 1X2 + 2X3

X1 + 3X2 + 2X3

With X1, X2, X3 >= 0

To answer this question:

Answer each question and explain your reasoning or show your calculations.

1. What is the optimal production schedule for this firm? What is the profit contribution of each of these products?

2. What is the marginal value of an additional hour of time on machine 1? Over what range of time is this marginal value valid?

3. What is the opportunity cost associated with product 1? What interpretation should be given to this opportunity cost?

4. How many hours are used for machine 3 with the optimal solution?

Answers

(5)
Status NEW Posted 07 Aug 2017 12:08 AM My Price 5.00

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