The Excel Solver solution can be found as below:
The objective function is as shown in cell D5, which is entered in the solver column with "Min" as the criteria.
Also, The Decision variables X1, X2,X3,..., X6 are as shown in cells D3 to I3. This is represented by changing variable cells.
Coming to the constraint, the cells in the table show the constraint
Constraint 2, 3, and 4 has to be rewitten as follows:
X4 - 21000 X1 <= 0
X5 - 20000 X2 <= 0
X6 - 19000 X3 <= 0
Also, Constraint 5 represents the Binary Variable for variables X1, X2, and X3 being equal to 0 or 1
Now, Optimal Solution is for cost at $1760,000
Decision variables:
X1 = 0; X2 = 1 ; X3 = 1 ; X4 = 0; X5 = 20,000 ; X6 = 18,000
please show all your steps in excel Consider the following model: Min. cost = 340,000X1 +...
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