Assignment title: Information


​​​ A farmer has 10 acres to plant in wheat and rye. He has to plant at least 7 acres. However, he has only $1200 to spend and each acre of wheat costs $200 to plant and each acre of rye costs $100 to plant. Moreover, the farmer has to get the planting done in 12 hours and it takes an hour to plant an acre of wheat and 2 hours to plant an acre of rye. If the average profit is $500 per acre of wheat and $300 per acre of rye how many acres of each should be planted to maximize profits? Task A. Construct a spreadsheet model for the problem using Excel. Use solver to determine the number of acres of each crop (wheat and rye) that should be planted to maximise profit. Ensure you use appropriate constraints for: The lower and upper limits to the total number of acres planted The planting costs The planting time The number of acres of each crop should be whole numbers (use integer constraints) Capture an image of the solver window with the appropriate cell references and constraints. Paste this image in the empty cell area of the worksheet showing your solution to the problem. Copy your worksheet to a new tab in excel for Task B. Task B. The profits for each crop have been found to vary over time. They approximately follow normal distributions: Wheat has a mean profit of $500 per acre with a standard deviation of $200 Rye has a mean profit of $300 per acre with a standard deviation of $100 Using the NORMINV(RAND(), Mean, Stdev) function, simulate the total profit for 10 years. Show the following simulation summary statistics for total profit: Minimum total profit Maximum total profit Mean total profit Standard deviation of total profit Submit an Excel file containing: A worksheet (first tab) containing your solution to Task A with appropriate cell references and formulas, and including an image capture of the solver window (as above). A worksheet (second tab) containing your solution to Task B with appropriate cell references and formulas, and including your 10 years of total profit values and their summary statistics.