A carpenter makes Tables and Chairs. Each Table cost $30 to be made and can be sold for $70. Each Chair cost $16 and can be sold for $42. Also, sets (one table and four chairs) can be sold for $240. The carpenter can afford to spend up to 40 hours per week working and takes five hours to make a table and two hours to make a chair. Due to a space limitation in the shop, at most 40% of all the production (Tables and Chairs) has to be chairs. By experience, he knows that the maximum number of individual chairs (not in a Set) that he can sell in any given week is 30
Formulate this problem as an LP model, solve it, interpret the solution, and explain what are some of the assumptions that you made modeling the situation?