1. (a) What are the two different types of sensitivity ranges?

1. (a) What are the two different types of sensitivity ranges? Describe each type briefly and give a real world example for each type.(b) What is a marketing problem in applications of linear programming? Briefly discuss the decision variables, the objective function and constraint requirements in a marketing problem. Give a real world example of a marketing problem.(c) What is the required format of a linear programming problem to be solved by QM for Windows? What results are available from QM for Windows after solving a linear programming problem? Discuss briefly.(d) What is a transportation problem? Briefly discuss the decision variables, the objective function and constraint requirements in a transportation problem. Give a real world example of the transportation problem.Answer Questions 2 and 3 based on the following LP problem.P1 = number of Product 1 to be producedP2 = number of Product 2 to be producedP3 = number of Product 3 to be producedP4 = number of Product 4 to be producedTotal profitSubject toProduction budget constraintLabor hours constraintMinimum quantity needed for Product 1 constraintMinimum quantity needed for Product 2 constraintNon-negativity constraintsThe QM for Windows output for this problem is given below.Linear Programming Results:Variable