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Hinkel Rotary Engine- Excel -Production Planning Problem
Hinkel Rotary Engine, Ltd., produces four- and six- cylinder models of automobile engines. The firm's profit for each four-cylinder engine sold during its quarterly production cycle is $1,800 - $50X1, where X1 is the number sold. Hinkel makes $2,400 - $70X2 for each of the larger engines sold, with X2 equal to the number of six-cylinder engines sold. There are 5,000 hours of production time available during each production cycle. A four-cylinder engine requires 100 hours of production time, whereas six-cylinder engines take 130 hours to manufacture. Formulate this production planning problem for Hinkel. How do you set this problem up in Excel to find the optimal solution?
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