A company sells seven types of boxes, ranging in volume from 17 to 33 cubic feet. The demand and size of each box are given as: Box Type 1 | 2 | 3 | 4 | 5 | 6 | 7 Size 33 | 30 | 26 | 24 | 19 | 18 | 17 Demand 400 | 300 | 500 | 700 | 200 | 400 | 200 The variable cost (in dollars) of producing each box is equal to the box's volume. A fixed cost of $1,000 is incurred to produce any quantity of a particular box. If the company desires, demand for any type of box can be satisfied by a box

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

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Concept explainers

Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.

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A company sells seven types of boxes, ranging in volume from 17 to 33 cubic feet. The demand and size of each box are given as: Box Type 1 | 2 | 3 | 4 | 5 | 6 | 7 Size 33 | 30 | 26 | 24 | 19 | 18 | 17 Demand 400 | 300 | 500 | 700 | 200 | 400 | 200 The variable cost (in dollars) of producing each box is equal to the box's volume. A fixed cost of $1,000 is incurred to produce any quantity of a particular box. If the company desires, demand for any type of box can be satisfied by a box of a larger size. Formulate but do not solve an interger linear program, model to determine the minimum cost of meeting the demand for boxes. Be sure to define your decision variables. Your objective function and constraints must be linear functions; do not multiply decision variables by each other. For the above problem, I'm having some trouble with defining the constraints for a linear integer and would appreciate some assistance.

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