Production (profit maximization) problem
A company can produce four different types of devices identified as A, B, C and D. The minimum amounts of devices are Amin, Bmin, Cmin and Dmin. The maximum amounts are defined as Amax, Bmax, Cmax and Dmax. The prices of the devices are Ac, Bc, Cc and Dc:
There are three machines available to produce the devices: M1, M2 and M3. Each machine can operate from Tmin to Tmax minutes:
The time required to produce each devices on each machine (T) are given in the table (in minutes):
So, time to produce device A on machine M1 is denote as T_A_M1 and so on.
The amounts of devices are required to be found that maximize the profit.
The decision variables are amount of devices of each type: Ax, Bx, Cx and
The problem has been solved successfully with the following plan:
The Total Profit is $31877.5
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