Solving the LP formulated using the parameters estimated

Task 7: Solving the LP formulated using the parameters estimated.

Recall that the LP formulated in task 1 was:

Objective function:

Constraints:

Demand for :

Machining time constraint:

Assembly time constraint:

Finishing time constraint:

All decision variables are non-negative.

We shall use the following parameter estimates (obtained in tasks 2-6):

demand (number of units required) for product .

10000

12000

9000

15000

16000

cost for producing each unit of in a regular run.

$50

$70

$38

$98

$110

cost for producing each unit of in a special run.

$80

$90

$66

$136

$140

machining time (minutes) per unit of product .

assembly time (minutes) per unit of product .

finishing time (minutes) per unit of product .

Use these parameter estimates to solve the above LP using any solver (such as Excel Solvers Simplex method) to obtain the optimal production plan. You may modify the LP module I have provided (under Course Content) to solve the LP. Report your results as follows:

Minimum cost attainable:

Number of units produced

Regular Run

Special Run

Resources in regular run

Minutes used

Minutes available

MACHINE TIME

18000

ASSEMBLY TIME

24000

FINISH TIME

24000

Task 8. Sensitivity Analysis:

(a) By how much does the total cost change as the demand for each product type changes by 1 unit?

Increase (or decrease) the demand for the products (one product at a time) by 1 unit and see how it affects your optimal objective function value.Optimal LP Solution and Quality Control

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