“The XYZ Company produces two products. The fotal profit achieved from these products is described by the Following equ Total profit = - 0.2K? -0.4Y? + BX + I2Y + 1500 Where, X = thousands of units of product 1 Y= thousands of units of product 2 Every 1,000 units of X requires one hour of time in the shipping department, and every 1,000 units of Y requires 30 minutes in the shipping department. Each unit ofeach product requires two pounds Of a special ingredient, of which 64,000 pounds are available, Additionally, 80 hours of shipping Inbor are available. Demand for X and X is unlimited, (Formulate an optimization model to determine the minimum-variance porfaio that yields an expected annual return of atleast 0.14, i)__Derive the optimal {ons forthe made! in (Are these con sufficient condi Gil) How are models like the one you found in (i) ons both necessary and solved? “The vice president of Harling Equipment needs to select a new director of marketing, The two possible candidates are Bill and Sue, andthe eitera thought to be most relevant in the selection are [ouiership ability (L), personal skils (P), and administrative skills (A). The following pairwise ‘comparison matrixes were obtained: Criterion L P A L T i 14 P 3 T 2 A 4 ri 7 Leadership Personal Administrative Bill__Sue Bill__Sue Bill Sue pil (17 4 pil (1 [18 pi (12 sue (a1 sue [3-11 sue [21 Compute the priorities foreach pairwise comparison matrix. Gi)__Determine an overal priority foreach candidate. Which candidates preferred? ii) Comment on the consistency ofthe matrices. (for n(order of matrix) =3, RE Page 3