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Consider the Following Linear Programming Problem Use Solver to Find the Optimal Values of X₁ and }

question 14

Essay

Consider the following linear programming problem.
 Maximize 6X1+4X2 Subject to: X1+2X2163X1+2X224X12X1,X20\begin{array} { l l } \text { Maximize } & 6 \mathrm { X } _ { 1 } + 4 \mathrm { X } _ { 2 } \\\text { Subject to: } & \\& \mathrm { X } _ { 1 } + 2 \mathrm { X } _ { 2 } \leq 16 \\& 3 \mathrm { X } _ { 1 } + 2 \mathrm { X } _ { 2 } \leq 24 \\& \mathrm { X } _ { 1 } \geq 2 \\& \mathrm { X } _ { 1 } , \mathrm { X } _ { 2 } \geq 0\end{array}
Use Solver to find the optimal values of X₁ and X₂.

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Definitions:

COGS

COGS, or Cost of Goods Sold, represents the direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Payables Turnover Rate

An efficiency ratio that measures how quickly a company pays off its suppliers, calculated as cost of goods sold divided by average accounts payable.

Accounts Payable Balance

The total amount of short-term liabilities or obligations a company owes to its creditors or suppliers.

Sales

The total revenue generated from goods or services sold by a company during a specific period.

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