Identify the decision variables-objective function-contraint

Assignment Help Finance Basics

Reference no: EM131439705

Question: Implement the linear optimization model that you developed for Valencia Products in Problem in Excel and use Solver to find an optimal solution. Interpret the Solver Answer report and identify the binding constraints and verify the values of the slack variables by substituting the optimal solution into the model constraints.

Problem: Valencia Products makes automobile radar detectors and assembles two models: LaserStop and SpeedBuster. The firm can sell all it produces. Both models use the same electronic components. Two of these can be obtained only from a single supplier. For the next month, the supply of these is limited to 4,000 of component A and 3,500 of component B. The number of each component required for each product and the profit per unit are given in the table.

Components

Required/Unit

A B Profit/Unit

LaserStop 18 6 $12

SpeedBuster 12 10 $40

a. Identify the decision variables, objective function, and constraints in simple verbal statements.

b. Mathematically formulate a linear optimization model.

Reference no: EM131439705

Questions Cloud

What is the porters competitive forces model : What is the Porter’s Competitive Forces Model? Explain the model. What is each of the forces, and how does it influence the competition of firms? Give an example of a company in which one of the forces was particularly strong? Explain how that strong..

Design an audio amplifier which delivers given power outputs : Design, simulate, and test an Audio Amplifier which delivers one of the above power outputs to an 8? speaker load. The output power of your design and the input signal of your design must be selected from the above list.

Terms of the organizations structure and culture : Give an example of how an organization you are familiar with relates to it Information Technology (IT). Discuss this in terms of the organization’s structure, culture, and politics. Also, please consider the organizational goals and IT leadership. Do..

Discuss the current state of the voter turnout rates : The report should be written using correct grammar, spelling and punctuation.The report will be written using the APA formatZand a "Reference" page listing no less than eight references with no more than half being from the Internet.

Identify the decision variables-objective function-contraint : Interpret the Solver Answer report and identify the binding constraints and verify the values of the slack variables by substituting the optimal solution into the model constraints.

Product is an assemble-to-order product : Product A is an assemble-to-order product. It has a lot size of 150, and currently has an on-hand inventory of 110 units. There is a 2-week demand time fence and a 12-week planning time fence. Assume these are independent requests, and do not have cu..

Price of compact disc players decreases : Assume that compact discs and compact disc players are complements. When the price of compact disc players decreases:

Transaction processing system-decision support system : Define the following types of information systems: transaction processing system (TPS), management information system (MIS), decision support system (DSS), and executive support systems (ESS).

Design ladder diagram for a new ford truck door belt system : Design the ladder diagram for a new Ford truck door/safety belt system. When the truck door is open and the seat belt is not clicked in, the truck will not start. If door is closed and seat belt is clicked in, the key will start the ignition.

User Account

All Pages