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[answered] A department store chain is planning to open a new store. I


I need help solving the attached problem in Excel, and it can only be done in Excel. Thanks!


A department store chain is planning to open a new store. It needs to decide how to allocate the

 

125,000 square feet if available floor space among seven departments. Data on expected

 

performance of each department per month, in terms if square feet (sf), are shown in the table.

 

The company has gathered $25 million to invest in floor stock. The risk column is a measure of risk

 

associated with investment in floor stock based on past data from other stores and accounts for

 

outdated inventory, pilferage, breakage, etc. For instance, electronics loses 24% of its total

 

investment; furniture loses 12% of its total investment, etc. The maximum total risk can be no

 

greated than 12% of the actual investment.

 

a. Develop a linear optimization model to maximize profit.

 

b. If the chain obtains another $2.5 million of investment capital for stock, what would the new

 

solution be? allocate the

 

ted

 

n the table. easure of risk

 

counts for

 

total

 

an be no ld the new Department

 

Electronics

 

Furniture

 

Clothing-Men

 

Clothing - Women

 

Jewelry

 

Books

 

Appliances Investment/Sf Risk as a % of $ invested

 

Minimum SF Maximum SF

 

$

 

100.00

 

24%

 

6000

 

30000

 

$

 

50.00

 

12%

 

10000

 

30000

 

$

 

30.00

 

50%

 

2000

 

5000

 

$

 

600.00

 

10%

 

3000

 

40000

 

$

 

900.00

 

14%

 

1000

 

10000

 

$

 

50.00

 

2%

 

1000

 

50000

 

$

 

400.00

 

3%

 

12000

 

40000 Expected Profit per Sf

 

$

 

12.00

 

$

 

6.00

 

$

 

2.00

 

$

 

30.00

 

$

 

20.00

 

$

 

1.00

 

$

 

13.00

 


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