Excel's Solver Tool Has Been Used in the Spreadsheet Below $\text { Input Section }$

question 5

Essay

Excel's Solver tool has been used in the spreadsheet below to solve a linear programming problem with a minimization objective function and all  constraints. $\text { Input Section }$

$\text { Objective Function Coefficients }$
$\begin{array}{|c|c|c|c|c|}\hline && x & y & \\\hline && 5 & 4 & \\\hline &&&&\\\hline &\text { Constraints } & & & \text { Req'd } \\\hline &\# 1 & 4 & 3 & 60 \\\hline &\# 2 & 2 & 5 & 50 \\\hline &\# 3 & 9 & 8 & 144 \\\hline\end{array}$

$\text { Output Section }$
$\begin{array}{|c|c|c|c|c|}\hline &&&&\\\hline &\text { Variables } & 9.6 & 7.2 & \\\hline &\text { Profit } & 48 & 28.8 & 76.8 \\\hline &&&&\\\hline &\text { Constraint } & \text { Usage } & \text { Slack } \\\hline &\# 1 & 60 & 1.35 \mathrm{E}-11 \\\hline &\# 2 & 55.2 & -5.2 \\\hline &\# 3 & 144 & -2.62 \mathrm{E}-11 \\\hline &&&&\\\hline\end{array}$
a.Give the original linear programming problem.
b.Give the complete optimal solution.

Calculate and determine the optimal product mix under capacity constraints.

Analyze the role of excess capacity in competitive bidding and pricing strategies.

Identify practices prohibited by regulatory bodies like the ACCC to ensure fair competition.

Grasp the importance of understanding customer preferences in strategic decision-making.

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