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Homework-Chapter3 - Chapter 3 Homework 6 Refer to the...

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Chapter 3: Homework 6. Refer to the Kelson Sporting Equipment solved in Homework 2. a) Determine and interpret the objective coefficient ranges b) Determine and interpret the right-hand side ranges c) How much will the value of the optimal solution improve if 20 extra hours of packaging and shipping time are made available? 20. Adirondack Savings Bank (ASB) has $1 million in new funds that must be allocated to home loans, personal loans, and automobile loans. The annual rates of return for the three types of loans are 7% for home loans, 12% for personal loans, and 9% for automobile loans. The bank’s planning committee has decided that at least 40% of the new funds must be allocated to home loans. In addition, the planning committee has specified that the amount allocated to personal loans cannot exceed 60% of the amount allocated to automobile loans. a) Formulate a linear programming model that can be used to determine the amount of funds ASB should allocate to each type of lean in order to maximize the total annual return for the new funds.
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