MGT 3130 Unit 6 Homework Problem 7-14, 7-15 and 7-18

Problem 7-14The Electrocomp Corporation manufactures two electrical products: air conditioners and large fans. The as-sembly process for each is similar in that both require a certain amount of wiring and drilling. Each air con-ditioner takes 3 hours of wiring and 2 hours of drilling. Each fan must go through 2 hours of wiring and 1 hour of drilling. During the next production period, 240 hours of wiring time are available and up to 140 hours of drilling time may be used. Each air conditioner sold yields a profit of $25. Each fan assembled may be sold for a $15 profit. Formulate and solve this LP production mix situation to find the best combination of air conditioners and fans that yields the highest profit. Use the corner point graphical approach..9090909957886px;”=””>Problem 7 15Electrocomp’s management realizes that it forgot to include two critical constraints (see Problem 7-14). Inparticular, management decides that there should be a minimum number of air conditioners produced inorder to fulfill a contract. Also, due to an oversupply of fans in the preceding period, a limit should be placed on the total number of fans produced. (a) If Electrocomp decides that at least 20 air conditioners should be produced but no more than 80fans should be produced, what would be the optimal solution? How much slack is there for each of the four constraints?Complete only the parts of problem 7 15 as show below from your text. (Note that part (b) is not assigned.)Compose your response in MS Word. Copy and paste your complete problem solution or submit as an attachment. Clearly label all requested components in your answer.Include the following in your answer:Supporting graphMaximize profit =(Hint: write an equation with X1 and X2)subject to: X1 > 0X2 > 0What additional constraint equations?Point 1 = (__, __) profit = ____Point 2 = (__, __) profit = ____Continue as needed to show profit at each corner point.Optimal solution is at point (__, __)Problem 7 18The dean of the Western College of Business must plan the school’s course offerings for the fall semester. Student demands make it necessary to offer at least 30 undergraduate and 20 graduate courses in the term. Faculty contracts also dictate that at least 60 courses be offered in total. Each undergraduate course taught costs the college an average of $2,500 in faculty wages, and each graduate course costs $3,000. How many undergraduate and graduate courses should be taught in the fall so that total faculty salaries are kept to a minimum?Compose your response in MS Word. Copy and paste your complete problem solution or submit as an attachment. Clearly label all requested components in your answer.Include the following in your answer:Supporting graphLet X1 = number of undergraduate courses X2 = number of graduate coursesInclude the following in your answer:Minimizing cost =(Hint: write an equation with X1 and X2)subject to: (List constraint equations)Point 1 = (__, __) total cost = ____Point 2 = (__, __) total cost = ____Continue as needed to show total cost at each corner point.Optimal solution is at point (__, __)