Use Analytic Solver Platform to find optimal solution. Describe anything that is different in the graphical and Analytic Solver solutions

Describe anything that is different in the graphical and Analytic Solver solutions

Question 1:

Bouncy Paws is a small pet boutique that produces two kinds of healthy pup treats. Each treat iscomprised of organic chicken, chick peas, and cranberries. Although the company earns a nice profit oneach kind of treat, current demand sets a limited number to be produced. The ounces of ingredientsrequired and available, as well as, profits and demand are summarized in the following table. Theboutique wants to anticipate its product mix of bags produced to maximize profit.

Product

Profit per Bag($)

Demand for product

Oz. of Chicken per bag

Oz. of chickpeas per bag

Oz. of cranberries perbag

Treat 1

8

50

4

6

4

Treat 2

4

20

5

3

10

Material available (oz.)                                                   100                                    120                                       160

1.  Create an EXCEL spreadsheet of LP model showing attention to both accuracy and presentation.

2.  Use Analytic Solver Platform to find optimal solution. Describe anything that is different in the graphical and Analytic Solver solutions.

Problem 2:

An estate-planning officer at Union First Bank needs to determine how to invest $100,000 in the following collection of bonds to maximize the annual return.

Bond

Annual

Return

Maturity

Risk

Tax-free

A

9.5%

Long

High

Yes

B

8.0%

Short

Low

Yes

C

9.0%

Long

Low

No

D

9.0%

Long

High

Yes

E

9.0%

Short

High

No

The officer wants to invest at least 50% of the funds in short-term issues and no more than 50% in high-risk issues.  At least 30% of the monies should go in tax-free investments, and at least 40% of the total annual return should be tax free.  [reminder: use binary numbers 0, 1 to represent constraints Maturity, Risk, a)

1. Create an EXCEL spreadsheet of LP model showing attention to both accuracy and presentation

2. Use Analytic Solver Platform to find optimal solution.

Problem 3:

COOL DORM DESIGN produces computer stands and storage cubes for college dorms. The productionprocess requires mold work and finishing. Each stand requires 6 hours of mold processing and 4 hoursof finishing. Each cube set (of 3) requires 4 hours of mold processing and 8 hours of finishing. There are36 hours of mold processing and 40 hours of finishing time available. Computer stands generate $20 ofprofit and cube sets generate $50 of profit. Demand for stands is limited so at most 10 will be produced. [Produce your own table]

1. Create an EXCEL spreadsheet of LP model showing attention to both accuracy and presentation

2. Use Analytic Solver Platform to verify graphical solution Describe anything that is different in the graphical and Analytic Solver solutions.

Problem 4:

Worldwide Kitchen Enterprises is the maker of two different kinds of kitchen islands, Chop Block Deluxe and Chop Block Economy  A new corporate retail customer issued a purchase order for $750,000.  The company is aware that its labor capacity will fall short of the order; so some of the islands will need to be subcontracted to a competitor.   Below are the data you need to build your LP model.

Chop Block Deluxe

Chop Block Economy

Units ordered

5,000

900

Cost to make     

$180

$83

Cost to buy

$206

$97

Hours Available

Assembly hours

3.5

3

10,000

Varnish hours

3

1

5,000

How many Chop Block Deluxe and Chop Block Economy islands should Worldwide make and how many should it buy from its competitor—to completely fill the order in the least costly manner.

1. Create an EXCEL spreadsheet of LP model showing attention to both accuracy and presentation

2. Use Analytic Solver Platform to find optimal solution

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