using Microsoft Excel and the Solver tool to assist a spa manufacturer in maximizing their profit by determining the optimal number of two different spa models to produce based on limited resources.
.In this assignment we will work with Microsoft Excel. I assume you all have some
knowledge of Excel. We will use Microsoft Office for this assignment. It is available in
the lab/classroom in the College of Business. In all likelihood, it is available in other labs
or library on campus as well.
2. Go to the Excel Solver Power Points on Canvas to learn how to use Solver.
3. Your assignment problem is in #4 below. I will give you a pattern to follow, but you
can use your own set-up of the page if you wish. Mine is on the next page.
4. Maximizing Profit
HotSprings Spas manufactures and sells two spa models: the Steamboat and the
Classic. HotSprings Spas receives spa bodies from another manufacturer and then
adds a pump and tubing to circulate the water. The Steamboat model demands 15.5
hours of labor and 14.5 feet of tubing. The Classic model requires 10.5 hours of
labor and uses 20 feet of tubing. Based on selling patterns, the owner, Deborah
liebson, has determined that the Steamboat model generates a profit of $400 per
unit, and the Classic model generates $345 profit While Deborah would like a large
labor capacity and sufficient tubing and motors to build any number of spas, her
resources are limited. For the next production period, Deborah has 2,650 labor
hours, 3,450 feet of tubing, and 231 pumps available. Deborah needs assistance in
figuring out how many Steamboat and Classic models to build in order to maximize
her profit. Given the constraints above, assist Deborah in her what-if analysis.
5. Before going into Tools/Solver, you need to write functions for each of the cells in
the Totals section, that is, for total labor, total tubing, total pumps, total Steamboat profit,
total Classic profit and total profit.
6. In Solver the target cell will be Total Profit which you will try to maximize. The
variable cells will be the two Number of Spas Produced cells, one for Steamboat and
one for Classic. Add the constraints and then solve.
7. Name your file [Assignment_Solver]_[YourFirstName]_[YourLastName]. Delete
what is in the two variable cells, the two Number of Spas Produced cells, before you
send it and all your totals should go back to 0. But don’t delete your formulas or change
your Solver dialog box. When this is working properly, submit it to Canvas.
8. Go to Canvas and choose the Assignments link from the Course Menu. Then click
on Assignment-Solver. Then scroll down and click Add Attachments. Click on My
Computer and add the .xlsx file from your computer. Click Submit. If everything went
well, you’ll get a message that your assignment was submitted. Check under the
Submitted tab under assignments to be sure you’ve properly submitted.
7. Submit your assignment before the due date.
Hot Springs Spas
The Steamboat
Labor Hours/Spa
Tubing/Spa
Pumps/Spa 1
Profit/Spa
Number of Spas Produced
The Classic
Labor Hours/Spa
Tubing/Spa
Pumps/Spa 1
Profit/Spa
Number of Spas Produced
Constraints
Labor
Tubing
Pumps
Totals
Labor
Tubing
Pumps
Steamboat Profit
Classic Profit
Total Profit
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