You Have Been Given the Following Linear Programming Model and Excel

question 60

Essay

You have been given the following linear programming model and Excel spreadsheet to solve this problem. What numbers should be entered into cells B5:C5 and B8:C10 to implement this model?
$$\begin{array} { l l } \text { MAX: } & 2 X _ { 1 } + 7 X _ { 2 } \\\text { Subject to: } & 5 X _ { 1 } + 9 X _ { 2 } \leq 90 \\& 9 X _ { 1 } + 8 X _ { 2 } \leq 144 \\& X _ { 2 } \leq 8 \\& X _ { 1 } , X _ { 2 } \geq 0\end{array}$$ $$\begin{array} { | c | c | c | c | c | c | } \hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } \\\hline 1 & & & & & \\\hline 2 & & & & & \\\hline 3 & & X _ { 1 } & \mathrm { X } _ { 2 } & & \\\hline 4 & \text { Number to make: } & & & & \text { OBJ. FN. VALUE } \\\hline 5 & \text { Unit profit: } & & & & \\\hline 6 & & & & & \\\hline 7 & \text { Constraints: } & & & \text { Used } & \text { Available } \\\hline 8 & 1 & & & & 90 \\\hline 9 & 2 & & & & 144 \\\hline 10 & 3 & & & & 8 \\\hline\end{array}$$

---

Definitions:

Population Values

The actual numerical values representing a characteristic of every individual member of a population.

Confidence Level

A measure indicating the probability that a given range includes the true value of an estimated parameter.

Confidence Interval

A confidence interval is a range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Alpha (α)

In investing, alpha represents the excess returns of a portfolio relative to the return of a benchmark index. In statistics, it often denotes the level of significance in hypothesis testing.