Implement the following LP problem in a spreadsheet. Use Solver to solve the problem and create a Sensitivity Report.
MAX: 4X1 + 2X2
Subject to: 2X1 + 4X2 < or = 20
3X1 + 5X2 < or = 15
X1, X2 > or = 0
Use the Sensitivity Report to answer the following questions, explaining your reasoning:
What range of values can the objective function coefficient for the variable X1 assume without changing the optimal solution?
Is the optimal solution to this problem unique, or are there alternate optimal solutions?
How much does the objective function coefficient for the variable X2 have to increase before it enters the optimal solution at a strictly positive level?
What is the optimal objective function value if X2 equals 1?
What is the optimal objective function value if the RHS value for the second constraint changes from 15 to 25?
Is the current solution still optimal if the coefficient for X2 in the second constraint changes from 5 to 1?
The given LP is setup in Excel and after application of Solver to find the solution, the output Sensitivity Report is touched on through comments in the Excel document.