Hiland Appliance must determine how many TVs and Blu-Ray disc players to stock. It costs Hiland… 1 answer below »

Hiland Appliance must determine how many TVs and Blu-Ray disc players to stock. It costs Hiland $1000 to purchase a TV and $400 to purchase a Blu-Ray player. A TV requires three square yards of storage space, and a Blu-ray disc player requires one square yard. The sale of a TV earns Hiland a profit of $150, and each Blu-ray disc player sale earns a profit of $100. Hiland has set the following goals (listed in order of importance):

■ Goal 1: A maximum of $60,000 can be spent on purchasing TVs and Blu-ray disc players.

■ Goal 2: Highland should earn at least $7,000 profit from the sale of TVs and Blu-ray disc players.

■ Goal 3: TVs and Blu-ray disc players should not use up more than 200 square yards of storage space. Use a goal programming model to determine how many TVs and Blu-ray disc players Hiland should order. How can you modify the model if Hiland’s second goal is to have a profit of exactly $7,000?