Suppose the following is the mathematical model: Max 15x s.t. ax lessthanorequal

Question

Suppose the following is the mathematical model: Max 15x s.t. ax lessthanorequalto 20 x Greaterthanorequalto 0 where a is the number of hours required for each unit produced. With a = 4, the optimal solution is x = 5.00. If we have a stochastic model with a = 2, a = 3, a = 4, or a = 5 as the possible values for the number of hours required per unit, what is the optimal value for x? Round your answers for the optimal solution to two decimal places. Round the answers for profit to the nearest dollar. If a = 2, x = and profit = $ If a = 3, x = and profit = $ If a = 4, x = and profit = $ If a = 5, x = and profit = $ What problems does this stochastic model cause? The problem with this stochastic model is and therefore the values of are not known with certainty.

Explanation / Answer

The problem with this stochastic model is "a" cannot be found out accurately and therefore the values of x are not known with certainty

a x Profit 2 10 150 3 6.67 100.05 4 5 75 5 4 60

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