Ragsdale8 Problem 3-13The Weedwacker Company manufactures two types of lawn trimmers: an electric model and a gas model. The company has contracted to supply a national discount retail chain with a total of 30,000 electric trimmers and 15,000 gas trimmers. However, WeedwackerΒs production capability is limited in three departments: production, assembly, and packaging. The following table summarizes the hours of processing time available and the processing time required by each department, for both types of trimmers:Hours Required per TrimmerElectricGasHours AvailableProduction0.200.4010,000Assembly0.300.5015,000Packaging0.100.105,000The company makes its electric trimmer in-house for $55 and its gas trimmer for $85. Alternatively, it can buy electric and gas trimmers from another source for $67 and $95, respectively. How many gas and electric trimmers should Weedwacker make, and how many should it buy from its competitor in order to fulfill its contract in the least costly manner?a)Word-process the linear programming model below.Variable Definitions:EM = Electric Trimmers to make in houseGM = Gas Trimmers to make in houseEB = Electric Trimmers to buyGB = Gas Trimmers to buyObjective FunctionMinimize Total Cost Z =Constraints b)Set up the spreadsheet for Excel Solver. Copy and paste the spreadsheet below.c)Copy and paste the Answer report below.d)Write the Optimal Solutio
n below.EM = Electric Trimmers to make in house =GM = Gas Trimmers to make in house =EB = Electric Trimmers to buy =GB = Gas Trimmers to buy =Total Cost Z =Ragsdale8 Problem 3-22A trust officer at the Blacksburg National Bank needs to determine how to invest $100,000 in the following collection of bonds to maximize the annual return.BondAnnual ReturnMaturityRiskTax-FreeA9.5%LongHighYesB8.0%ShortLowYesC9.0%LongLowNoD9.0%LongHighYesE9.0%ShortHighNoThe officer wants to invest at least 50% of the money in short-term issues and no more than 50% in high-risk issues. At least 30% of the funds should go in tax-free investments, and at least 40% of the total annual return should be tax free.e)Word-process the linear programming model below. Note: Maximize the total annual return.Variable DefinitionsA = Amount to invest in Bond A B = Amount to invest in Bond B C = Amount to invest in Bond C D = Amount to invest in Bond D E = Amount to invest in Bond EObjective FunctionMaximize Total Annual Return Z =Constraints f)Set up the spreadsheet for Excel Solver. Copy and paste the spreadsheet below.g)Use Solver to find the optimal solution. Copy and paste the Answer Report below.h)Write the Optimal Solution below.A = Amount to invest in Bond A =B = Amount to invest in Bond B =C = Amount to invest in Bond C =D = Amount to invest in Bond D =E = Amount to invest in Bond E =Total Annual Return Z =