Kings Department Store has 675 rubies, 810 diamonds, and 750 emeralds from which they will make bracelets and necklaces that they have advertised in their Christmas brochure. Each of the rubies is approximately the same size and shape as the diamonds and the emeralds. Kings will net a profit of $250 on each bracelet, which is made with 2 rubies, 3 diamonds, and 4 emeralds, and $500 on each necklace, which includes 5 rubies, 7 diamonds, and 3 emeralds. Kings Department store is trying to determine how many of each it should make to maximize its profit.
Formulate this as a linear programming model (Decision variables, Objective function and constraints).
Following the example given in the lecture, use this website (https://www.desmos.com/calculator) to plot the two linear program models from discussion D1.1.
- Make sure to zoom in so that the feasible region is properly displayed.
- Take a screen shot of each graphical representation and indicate where the feasible region is located.
- Embed your result as pictures at this discussion board.
- Following the example in the lecture, set the objective function to an arbitrary value, draw the corresponding line of same profit on the graph from D1.2 with desmos. Adjust the profit value gradually to move the line of same profit towards the optimal values. Find the optimal solutions by reading out the correct intersection coordinates. Take a few screenshots to show your work and share in this discussion board. Do this for both GE and Jewelry examples.
Following the example in the lecture, use Excel solver to find the optimal solutions for both GE and Jewelry problems. Are they close to what you got from the graphical approach in D1.3. Share your work in the discussion board.