Linear Programming ProjectOverviewFor this assignment,you can connect to your real-world experiences...

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Linear Programming ProjectOverviewFor this assignment,you can connect to your real-world experiences with your current business/employment, or a business you are thinking about starting. Your project for this should reflecta linear programming approach based on the following specifications:It will be a problem with at least three constraints and at least two decision variables.The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions).The problem will also include a component that involves sensitivity analysis and the use of the shadow price.InstructionsYou will be turning in two deliverables, a short writeup of the project, and the spreadsheet showing your work.WriteupYour writeup should introduce your solution to the project by describing the problem.Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution.Identify each variable and explain the criteria involved in setting up the model. This should be encapsulated in one or two succinct paragraphs.After the introductory paragraph, write out the LP model for the problem. Include the objective function and all constraints, including any non-negativity constraints. Then, you should present the optimal solution, based on your work in Excel.Explain what the results mean.Finally, write a paragraph addressing the part of the problem pertaining to sensitivity analysis and shadow price.SpreadsheetPlease set up your problem in QM for Windows or Excel and find the solution using Solver.Clearly label the cells in your spreadsheet.You will turn in the entire spreadsheet, showing the setup of the model, and the results.

Suraj · Accepted Answer

Linear Programming Problem
Introduction: In this problem, we are going to use linear programming problem (LPP) technique to demonstrate our findings. The data set taken is related to some business problem. The situation is given as follows:
A manufacturer of leather belts makes three types of belts A, B, and C which are processed on three machines M1, M2, and M3. Belt A requires 2 hours on machine M1 and 3 hours on machine M3. Belt B requires 3 hours on machine M1, 2 hours on machine M2 and 2 hours on machine M3. Belt C requires 5 hours on machine M2 and 4 hours on machine M3. There are 8 hours of time per day available on machine M1, 10 hours of time per day available on machine M2 and 15 hours of time per day available on machine M3. The profit gained from belt A is $3 per unit, from belt B is $5 per unit and from belt C $4 per unit. We need find the daily production of each type of belt to maximize the profit.4
As described in the above situation, this is a maximization problem.

Linear Programming Project Overview For this assignment,you can connect to your real-world experiences with your current business/employment, or a business you are thinking about starting. Your...

Overview

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Writeup

Spreadsheet

Solution

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