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Answer the following assuming that the company is interested in maximizing the total profit contribution.
a.What is the linear programming model for this problem?
b.Develop a spreadsheet model and find the optimal solution using Excel Solver. How many tires of each model should Gatson manufacture?
c.What is the total profit contribution Gatson can earn with the optimal production quantities?
| Forecast | Forecast Error | Absolute Value of Forecast Error | Squared Forecast Error | Percentage Error | Absolute Value of Percentage Error | ||
| Year | Value | ||||||
| 1 | 234 | ||||||
| 2 | 287 | 234.00 | 53.00 | 53.00 | 2809.00 | 18.47% | 18.47% |
| 3 | 255 | 260.50 | -5.50 | 5.50 | 30.25 | -2.16% | 2.16% |
| 4 | 310 | 258.67 | 51.33 | 51.33 | 2635.11 | 16.56% | 16.56% |
| 5 | 298 | 271.50 | 26.50 | 26.50 | 702.25 | 8.89% | 8.89% |
| 6 | 250 | 276.80 | -26.80 | 26.80 | 718.24 | -10.72% | 10.72% |
| 7 | 456 | 272.33 | 183.67 | 183.67 | 33733.44 | 40.28% | 40.28% |
| 8 | 412 | 298.57 | 113.43 | 113.43 | 12866.04 | 27.53% | 27.53% |
| 9 | 525 | 312.75 | 212.25 | 212.25 | 45050.06 | 40.43% | 40.43% |
| 10 | 436 | 336.33 | 99.67 | 99.67 | 9933.44 | 22.86% | 22.86% |
| Total | 772.15 | 108477.84 | 187.89% | ||||
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