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outdated inventory, pilferage, breakage, etc.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
n the table. easure of risk
an be no ld the new Department
Clothing - Women
Appliances Investment/Sf Risk as a % of $ invested
Minimum SF Maximum SF
40000 Expected Profit per Sf
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