{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Mid_term_solution

# Mid_term_solution - IELM 202 1 Midterm Solution(a The...

This preview shows pages 1–2. Sign up to view the full content.

IELM 202 Midterm Solution 1/6/11 1. (a) The optimal solution is to produce no chocolate ice cream, 300 gallons of vanilla ice cream, and 75 gallons of banana ice cream. Total profit will be \$341.25. (b) The optimal solution will change since \$1.00 is outside the allowable range of \$(0.95- 0.05) to \$(0.95 + 0.021429). The profit will go up, but how much can’t be determined without re-solving. (c) The optimal solution will not change since \$0.92 is within the allowable range. The total profit will decrease by (75)\$0.03 = \$2.25 to \$339. (d) The optimal solution will change. Since the change is within the allowable range (the allowable decrease is 3.75), we can calculate the change in profit using the shadow price (1*3 = 3). The new profit will be \$338.25. 2. Solution for formulation: The decision variables can be denoted and defined as follows: M = number of men’s gloves to produce per week, W = number of women’s gloves to produce per week, C = number of children’s gloves to produce per week, F = number of full-time workers to employ, PT = number of part-time workers to employ.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}