Cost-Benefit Trade-Off (Linear Programming).
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Consider a cost-benefit-trade-off problem having the following data:
Benefit Contribution
Per Unit of
Each Activity
Minimum
Acceptable
Benefit 1 2 Level
1 5 3 60
2 2 2 30
3 7 9 126
Unit Cost $60 $50
a. Formulate a linear programming model for this problem on a spreadsheet.
b. Use Solver to find the optimal solution.
c. Express the model in algebraic form.
d. Use the graphical method to solve the problem.
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Solution Summary
The solution illustrates the solution of a linear programming problem using Excel solver and graphical method. Response includes a Word and Excel attachment.
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