Excel and Solver Problem
A small magazine publisher wants to determine the best combination of two possible magazines to print for the month of July. Backyard magazine, which he has published for years, is a steady seller. The publisher wants to make sure he prints at least 400 copies to meet his demand from the newsstands. Porch is a new venture, and has received the benefit of a great deal of advance publicity. The publisher is hoping that by positioning it near Backyard, he will pick up some spillover demand from his regular readers. Also, he is hoping that the advertising campaign will bring in a new type of reader from a potentially very lucrative market. He wants to print at least 300 copies of Porch. The over price for Backyard is $3.50; he is pricing Porch at $4.50, because other magazines in this market seem to be able to command a higher price. The publisher has 50 hours of printing time available for this production run. He also has 30 hours in the collation department, where the magazines are actually assembled. Backyard requires 2.5 minutes per copy to print and 1.8 minutes per copy to collate. Because of its larger size, Porch will require 3 minutes to print and 2 minutes to collate. How many of each magazine should the publisher print to maximize his revenue?
A) Solve this problem using excel. Formulate into a spreadsheet and then use Solver.
A small magazine publisher wants to determine the best combination of two possible magazines to print for the month of July. Backyard magazine, which he has published for years, is a steady seller. The publisher wants to make sure he prints at least 400 copies to meet his demand from the newsstands. Porch is a new venture, and has received the benefit of a great deal of advance publicity. The publisher is hoping that by positioning it near Backyard, he will pick up some spillover demand from his regular readers. Also, he is hoping that the advertising campaign will bring in a new type of reader from a potentially very lucrative market. He wants to print at least 300 copies of Porch. The over price for Backyard is $3.50; he is pricing Porch at $4.50, because other magazines in this market seem to be able to command a higher price. The publisher has 50 hours of printing time available for this production run. He also has 30 hours in the collation department, where the magazines are actually assembled. Backyard requires 2.5 minutes per copy to print and 1.8 minutes per copy to collate. Because of its larger size, Porch will require 3 minutes to print and 2 minutes to collate. How many of each magazine should the publisher print to maximize his revenue?
A) Solve this problem using excel. Formulate into a spreadsheet and then use Solver.
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