From your real-world of your business* formulate a linear programming project for this assignment according to the following specifications.
It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price.
You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work.
Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution. Identify each variable and explain the criteria involved in setting up the model. This should be encapsulated in one (1) or two (2) succinct paragraphs.
After the introductory paragraph, write out the L.P. model for the problem. Include the objective function and all constraints, including any non-negativity constraints. Then, you should present the optimal solution, based on your work in Excel. Explain what the results mean.
Finally, write a paragraph addressing the part of the problem pertaining to sensitivity analysis and shadow price.
As previously noted, please set up your problem in Excel and find the solution using Solver. Clearly label the cells in your spreadsheet. You will turn in the entire spreadsheet, showing the setup of the model, and the results.
*if a real-world business study is not possible, you may work with a fictional one you make up…just make the story “real-world” based.
mr. gil buckman is 35 yr-old eu american guy. he is married with three youngsters living inside the home. the buckman’s are awaiting a infant in february. (grazer & howard, 1989) supplying or recognized problem: mr. buckman is looking for services to assist make stronger his family system. his primary situation is that his son kevin age nine is having issue in college and tormented by an emotional disturbance. mr. buckman feels kevin’s struggles are a right away end result of his parenting abilties. mr. buckman is also struggling with a decision that ought to be made regarding his profession. he desires to ensure his own family stability but making associate may cost a little him time along with his circle of relatives. he would like to locate another task but with a infant on the way he does now not sense that is an alternative. (grazer & howard, 1989) scientific records: there aren't any known health risks. the buckman family seems to be quite wholesome. however, gil reports that his father drinks pretty heavily, totally on unique events and may in all likelihood be an alcoholic. kevin is seeing a psychiatrist for his emotional desires. (grazer & howard, 1989) on the spot own family machine: the buckman home consists of the customer gil buckman, his spouse karen buckman, and their three youngsters kevin, taylor, and justin. karen is a 34 12 months-antique, european american mom to kevin age nine, taylor age 6, and justin age 3. she is also watching for a baby. all the youngsters are the organic offspring of gil and karen and share their ethnicity. the spousal subsystem gil and karen have problem speaking at times. gil resents karen for no longer telling him about the pregnancy sooner. karen thinks gil is blaming her for purchasing pregnant. “ladies have picks, guys have responsibility.” they hold a healthful sex lifestyles and mutual belief systems. (pellebon, 2009) sibling subsystem: kevin taylor and justin have petty arguments and antagonize every different. kevin resents having to care for his younger siblings and frequently replies “why do i have to do everything?” while asked to help his siblings. (pellebon, 2009) discern/infant subsystem: gil is a doting father. he tries to rectify his own relationship along with his father by using being a better parent. he communicates well with his kids, preserving an open communicate. he has a totally macho kind dating with kevin, even as he is more nurturing together with his daughter taylor. karen admits that they were greater overprotective with kevin while he was younger and much less stressful with justin. (pellebon, 2009) figure/grandparent subsystem: gil and his father have a strained dating. gill is sour that his father changed into neglectful. frank realizes he has made errors and is achieving out to gil. frank additionally feels his son is a better father than he turned into. recently he’s been mastering to talk with gil. he previously was more partial to larry. (pellebon, 2009) prolonged circle of relatives machine no longer in domestic: mr. buckman’s grandmother age 88 lives along with his dad and mom frank age sixty four and marilyn age 63. grandma has been uprooted since the visit of frank and marilyn’s youngest son larry and his son cool. the buckman’s are of ecu american descent. cool buckman is bi-racial. his ethnicity is both eu and african american. gil has an older sister helen, who is a single mother to julie and gary. he has a younger sister susan who is married to nathan and they have a daughter named patty. the youngest sibling mentioned in advance is larry.>GET ANSWER