Business, 06.03.2020 09:47 daebreonnakelly

Material 1 costs $7 a pound, material 2 costs $5 a pound, and labor costs $15 per hour. Product A sells for $101 a unit, product B sells for $67 a unit, and product C sells for $97.50 a unit. Each week there are 300 pounds of material 1; 400 pounds of material 2; and 200 hours of labor. Also, there is a weekly demand of at least 10 units of product C each week. Formulate the given problem scenario as a linear program, and solve the problem using Microsoft Excel Solver. For the formulation, provide a complete description of the decision variables used along with their units and also label the constraints mentioned in the problem as completely as possible. Also, the Excel set-up should provide clearly labeled values used for the decision variables, constraints, and objective function.

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Material 1 costs $7 a pound, material 2 costs $5 a pound, and labor costs $15 per hour. Product A se...

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