BUS 365, Introduction to Business Analytics
Your assignment is to formulate the attached problem as a linear program with an objective to maximize profit. You would use Excel solver to obtain the answer.
1) Write the problem formulation in algebraic form. When you do this, you can use the variable names as X1, X2, X3, X4 and X5. This will make the typing easier. (40 points)
2) Create a model in Excel. You can start with the Golf Bag Problem Excel Sheet and modify it.
Solve it using Excel Solver. (40 points)
Show the screenshot of the optimal screen (note: copy as picture/paste, and size it properly)
3) What is the optimal production Schedule and optimal profit? Write it below. (10 points)
4) Of the five resource constraints, which are non-binding constraints? Write them below. Why are they non-binding? Explain very briefly in one sentence. (10 points)
