In: Accounting
SOLVE THE FOLLOWING 2 LINEAR PROGRAMMING PROBLEMS USING EXCEL AND THE SOLVER ADD-IN. PLEASE SHOW ME ALL THE EXCEL STEPS.
PROBLEM #1: Maximize Z = $60X + $90Y
Subject to: 60X + 30Y >= 1,500
100X + 100Y <= 6,000
Y >= 30
X, Y >= 0
PROBLEM #2: Minimize Z = $3,000X + $1,000Y
Subject to: 60X + 20Y >= 1,200
10X + 10Y >= 400
40X + 160Y >= 2,400
X, Y >= 0
Problem #1:
Step 1: Fill in the data and provide formula as follows in the excel sheet:
Step 2: Go to Data->Solver-> fill in the following links wherever provided:
Step 3: Click on Solve. We get the following results:
Objective | X | Y | ||
Units | 0 | 60.00 | ||
Z | 60 | 90 | 5400.00 | |
X | Y | Maximum | ||
Constraint 1 | 60 | 30 | 1800.00 | 1500 |
Constraint 2 | 100 | 100 | 6000.00 | 6000 |
Constraint 3 | 1 | 60.00 | 30 |
Hence, only when Y =60 and X=0, Z is maximum.
Problem #2:
Step 1: Fill in the data and provide formula as follows in the excel sheet:
Step 2: Go to Data->Solver-> fill in the following links wherever provided:
Step 3:
Objective | X | Y | ||
Units | 10 | 30.00 | ||
Z | 3000 | 1000 | 60000.00 | |
X | Y | Maximum | ||
Constraint 1 | 60 | 20 | 1200.00 | 1200 |
Constraint 2 | 10 | 10 | 400.00 | 400 |
Constraint 3 | 40 | 160 | 5200.00 | 2400 |
Hence Z is minimum when x=10 and y=30.