Store space allocation planning problem
radios to keep in stock. A TV requires 10 square feet of floor space, whereas a
radio requires 4 square feet of floor space; 5000 square feet of floor space is
available. A TV sale results in an $80 profit, and a radio earns a profit of
$20. The store stocks only TVs and radios. Marketing requirements indicate that
at least 60% of all appliances in stock be radios. Finally, a TV ties up $200
in capital, and a radio $50. Hiland wants to have at most $60,000 worth of
capital tied up at any time.
a. Formulate
the linear programming problem
b. Solve
using Excel Solver
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