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Assignment 3

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Mushfiqul Islam
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9 views

Assignment 3

Uploaded by

Mushfiqul Islam
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Problem#1

c. Solve by using solver.

Problem#2

For the following linear programming problem, determine the optimal solution by the graphical solution method.
Are any of the constraints redundant? If yes, then identify the constraint that is redundant. (Use graphical method)
Max X + 2Y
s.t. X+ Y < 3
X 2Y > 0
Y < 1
X, Y  0
Problem#3
Does the following linear programming problem exhibit infeasibility, unboundedness, or alternate optimal
solutions? Explain.

Min 1X + 1Y
s.t. 5X + 3Y < 30
3X + 4Y > 36
Y < 7
X,Y > 0

Problem#4
Does the following linear programming problem exhibit infeasibility, unboundedness, or alternate optimal
solutions? Explain.
Max 3X + 3Y

s.t. 1X + 2Y < 16

1X + 1Y < 10

5X + 3Y < 45

X,Y>0

Sensitivity Analysis
Problem #5

The Xecko Tool Company is considering bidding on a job for two airplane wing parts. Each wing part
must be processed through three manufacturing stages stamping, drilling, and finishing for which the
company has limited available hours. The linear programming model to determine how many of part 1
(x1) and part 2 (x2) the company should produce in order to maximize its profit is as follows:

maximize Z = $650x1 + 910x2

A. Solve the model by using SOLVER.


B. Indicate how much slack resource is available at the optimal solution point.
C. Determine the sensitivity ranges for the profit for wing part 1 and the stamping hours available.
Problem 6

Investment Advisors, Inc., is a brokerage firm that manages stock portfolios for a number of
clients. A particular portfolio consists of U shares of U.S. Oil and H shares of Huber Steel. The
annual return for U.S. Oil is $3 per share and the annual return for Huber Steel is $5 per share.
U.S. Oil sells for $25 per share and Huber Steel sells for $50 per share. The portfolio has
$80,000 to be invested. The portfolio risk index (0.50 per share of U.S. Oil and 0.25 per share
for Huber Steel) has a maximum of 700. In addition, the portfolio is limited to a maximum of
1000 shares of U.S. Oil. The linear programming formulation that will maximize the total annual
return of the portfolio is as follows:

a. What is the optimal solution, and what is the value of the total annual return? (Solve
Graphically)
b. Which constraints are binding? What is your interpretation of these constraints in terms of
the problem?
c. Compute the range of optimality for objective function coefficient. (Objective function
sensitivity)
d. What are the dual values for the constraints? Interpret each. (Right hand side sensitivity)

Based on the graphical sensitivity analysis, answer the following question:

e. Would it be beneficial to increase the maximum amount invested in U.S. Oil? Why or why
not?
f. How much would the return for U.S. Oil have to increase before it would be beneficial to
increase the investment in this stock?
g. How much would the return for Huber Steel have to decrease before it would be beneficial to
reduce the investment in this stock?
h. How much would the total annual return be reduced if the U.S. Oil maximum were reduced
to 900 shares?

Answer the above questions by using graphical approach. Then solve the problem with solver
and check your above answers.
Problem 7

Irwin Textile Mills produces two types of cotton cloth denim and corduroy. Corduroy is a
heavier grade of cotton cloth and, as such, requires 7.5 pounds of raw cotton per yard, whereas
denim requires 5 pounds of raw cotton per yard. A yard of corduroy requires 3.2 hours of
processing time; a yard of denim requires 3.0 hours. Although the demand for denim is
practically unlimited, the maximum demand for corduroy is 510 yards per month. The
manufacturer has 6,500 pounds of cotton and 3,000 hours of processing time available each
month. The manufacturer makes a profit of $2.25 per yard of denim and $3.10 per yard of
corduroy. The manufacturer wants to know how many yards of each type of cloth to produce to
maximize profit.

a. Formulate a linear programming model for this problem and solve the model using
solver.
b. How much extra cotton and processing time are left over at the optimal solution? Is the
demand for corduroy met?
c. What is the effect on the optimal solution if the profit per yard of denim is increased from
$2.25 to $3.00? What is the effect if the profit per yard of corduroy is increased from
$3.10 to $4.00?
d. What would be the effect on the optimal solution if Irwin Mills could obtain only 6,000
pounds of cotton per month?

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