Statistics Solutions

(See Solution) Consider the following LP problem: Maximize profit = 5X + 6Y subject to 2X + Y ≤ 120 2X + 3Y ≤ 240 X, Y ≥ 0 What is the optimal solution

Question: Consider the following LP problem:

Maximize profit = 5X + 6Y

subject to 2X + Y ≤ 120

2X + 3Y ≤ 240

X, Y ≥ 0

  1. What is the optimal solution to this problem? Solve it graphically.
  2. If a technical breakthrough occurred that raised the profit per unit of X to $8, would this affect the optimal solution?
  3. Instead of an increase in the profit coefficient X to $8, suppose that profit was overestimated and should only have been $3. Does this change the optimal solution?

Price: $2.99
Solution: The downloadable solution consists of 4 pages
Deliverable: Word Document


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