Each coffee table produced by Kevin Watson Designers nets the firm a profit of $8. Each bookcase yields a $12 profit. Watson's firm is small and its resources limited. During any given production period (of 1 week), 9 gallons of varnish and 12 lengths of high-quality redwood are available. Each coffee table requires approximately 1 gallon of varnish and 1 length of redwood. Each bookcase takes 1 gallon of varnish and 2 lengths of wood. The aim of the objective function for Kevin should be to Maximize the objective value. Decision variables: X = number of coffee tables produced / week Y = number of bookcases produced / week Objective function: Z= nothingX+nothingY

Each coffee table produced by Kevin Watson Designers nets the firm a profit of $8. Each bookcase yields a $12 profit. Watson's firm is small and its resources limited. During any given production period (of 1 week), 9 gallons of varnish and 12 lengths of high-quality redwood are available. Each coffee table requires approximately 1 gallon of varnish and 1 length of redwood. Each bookcase takes 1 gallon of varnish and 2 lengths of wood. The aim of the objective function for Kevin should be to Maximize the objective value. Decision variables: X = number of coffee tables produced / week Y = number of bookcases produced / week Objective function: Z= nothingX+nothingY

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

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Concept explainers

Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.

Question

Each coffee table produced by Kevin Watson Designers nets the firm a profit of

$8.

Each bookcase yields a

$12

profit. Watson's firm is small and its resources limited. During any given production period (of 1

week),

gallons of varnish and

lengths of high-quality redwood are available. Each coffee table requires approximately

gallon of varnish and

length of redwood. Each bookcase takes

gallon of varnish and

lengths of wood.

The aim of the objective function for Kevin should be to

Maximize

the objective value.

Decision variables:

X = number of coffee tables produced / week

Y = number of bookcases produced / week

Objective function:

nothingX+nothingY

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