Question

Part 2: Linear programmin The Athena Princess is a luxury cruise liner that cruises the Aegean Sea and can hold 750 passengers. A round-trip from/to Athens takes six days, with passengers departing from Athens on day one and arriving back in Athens at the end of day six. The ship has a stop-over at a different port at the start of each day. Passengers are able to embark and disembark at any port, but multiple-day voyagers must be for consecutive days. All remaining passengers leave the cruise at the end of day six when the ship returns to Athens. Passengers can purchase tickets for three to six-day cruises, only if they purchase their tickets in advance. Casual cruisers can join the cruise at any port during the voyage, but can only stay a maximum of two days. The pricing for the advance tickets is $250 per p with passengers staying six days getting the last day free. Demand for the advance tickets is shown in the table below and is the same regardless of the port of embarkation. erson, per day, Length of trip Expected Demand Three-da Four-da Five-da Six-da 125 130 75 100 Prices for casual cruisers are $275 per day and demand depends on the port of embarkation: DayEmbarkation Port, Country at start One-day Two-day Expected of day Piraeus (Athens), Greece Mykonos, Greecee Patmos, Greece Kusadasi (Ephessos), Turk Rhodes, Greece Santorini, Greece Expected Demand Demand 20 10 20 50 30 4 20 10 10 N/A Required a) Formulate this problem as a linear program equation and solve in Excel using the Solver function. Submit your Excel spreadsheet directly to Canvas showing your linear program, the Answer Report and Sensitivity Report. On a separate spreadsheet tab, briefly outline the results of your linear programme. This should include details of the maximum revenue that could be earned, what the final values represent, which constraints are binding, and what the shadow prices mean. Organise the spreadsheet tabs as follows 1. Overview 2. LP 3. Answer report 4. Sensitivity report

Answer 1