Consider the following linear programming problem:
Minimize: 70M + 40N
Subject to: 3M + 7N ≥ 233
10M + 2N ≥ 254
2N ≥ 54
4M ≥ 90
M ≥ 0, N ≥ 0
1) Solve this problem graphically (As done in the class).
2) Then set it up in Excel and solve it.
3) Email the excel model which has the sum product formula to the instructor.
a. What are the values of the decision variables?
b. What is the value of the objective function?
c. What are the values of the slack or surplus variables?