Optimization Models - Decision Analysis - IT Assignment Help

Assignment Task:

Task:

Question 1. Optimization Models [15 Points]

A company provides 4 types of products to a client – A, B, C, and D. In-house production costs are estimated to be $18, $25, $34, and $36 per unit for products A, B, C, and D respectively. Each product requires three types of raw materials – RM1, RM2, and RM3 – for in-house production:

•  2 units of RM1, 2 units of RM2, and 2 units of RM3 per unit of product A;
•  3 units of RM1, 2 units of RM2, and 3 units of RM3 per unit of product B;
• 2 unit of RM1, 1 unit of RM2, and 4 units of RM3 per unit of product C; and
• 2 units of RM1, 4 units of RM2, and 5 units of RM3 per unit of product D.

The cost of raw materials RM1, RM2, and RM3 are $2, $3, and $4 per unit, respectively. Over the upcoming month the company has 10,000 units of RM1, 9,600 units of RM2, and 12,500 units of RM3 available. The company is contractually obligated to provide the client with 5,000 units of product A, 4,000 units of product B, 3,000 units of product C, and 1,000 units of product D in the upcoming period.

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