Submit an EXCEL or MathCad document. In order to receive credit, fill in all of the blanks and show your work to the following problem:
(Either write the formulas/steps or I should be able to click on a cell to view the formula that you used.)
A manufacturer makes three types of golf bags: economy, deluxe, and super deluxe. The economy bag requires 15 minutes of cutting time, 20 minutes of sewing time, 30 minutes of trimming time, and has a retail price of $80. The deluxe bag requires 15 minutes of cutting time, 20 minutes of sewing time, 50 minutes of trimming time, and retails for $90. The super deluxe bag requires 20 minutes of cutting time, 30 minutes of sewing time, 50 minutes of trimming time, and sells for $100. The firm has 80 work hours of cutting time, 90 work hours of sewing time, and 120 work hours of trimming time available each day. A contract from a large discount store requires that the manufacturer make at least 20 economy bags and 25 deluxe bags each day. The company also wants to make an equal amount of deluxe and super deluxe bags each day. How many bags of each type should be manufactured each day so that the manfacturer’s requirements and the contract requirements are met and also so that the revenue is maximized?
As you solve this problem, be sure to include the following items:
1. Let’s label the variables.
e = the number of economy golf bags produced each day
d = the number of deluxe golf bags produced each day
s = the number of super deluxe golf bags produced each day
R = the total retail each day
2. What is the objective function, R? (2 pts.)
3. What are the constraints? Write inequality statements here. (10 pts.)
(Don’t forget to convert hours to minutes.)
4. Find the optimal solution. (35 pts.)
5. Interpret the solution. Explain what the solution represents. (3 pts.)