A Company Needs to Purchase Several New Machines to Meet

question 22

Essay

A company needs to purchase several new machines to meet its future production needs.It can purchase three different types of machines A,B,and C.Each machine A costs $80,000 and requires 2,000 square feet of floor space.Each machine B costs $50,000 and requires 3,000 square feet of floor space.Each machine C costs $40,000 and requires 5,000 square feet of floor space.The machines can produce 200,250 and 350 units per day respectively.The plant can only afford $500,000 for all the machines and has at most 20,000 square feet of room for the machines.The company wants to buy as many machines as possible to maximize daily production.
What values would you enter in the Risk Solver Platform RSP)task pane for the following cells for this Excel spreadsheet implementation of the formulation for this problem?
Objective Cell: Variables Cells: Constraints Cells:

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Definitions:

Attitude Formation

The psychological process through which individuals develop favorable or unfavorable evaluations, feelings, and tendencies towards particular ideas, objects, or people.

Learning

Those behaviors that result from repeated experience and reasoning.

Self-concept

An individual's perception of oneself, including beliefs, feelings, and thoughts about personal identity and capabilities.

Selective Perception

The process by which individuals perceive what they want to in media messages while ignoring opposing viewpoints.