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In: Statistics and Probability

This assignment requires using the Excel add-in called Solver. Sam manufacturing company produces two types of...

This assignment requires using the Excel add-in called Solver.

Sam manufacturing company produces two types of tires: Economy tires and Premium tires. The manufacturing time and the profit contribution per tire are given in the following table.

Answer the following assuming that the company is interested in maximizing the total profit contribution.

  1. What is the linear programming model for this problem?
  2. Develop a spreadsheet model and find the optimal solution using Excel Solver. How many tires of each model should Gatson manufacture?
  3. What is the total profit contribution Gatson can earn with the optimal production quantities?

Operation

Manufacturing Time (Hours)

Time Available

Economy tires

Premium tires

Hours

Material Preparation

4/3

1/2

600

Tire Building

4/5

1

650

Curing

1/2

2/4

580

Final Inspection

1/5

1/3

120

Profit/Tire

$12

$10

Solutions

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