Please show step by step how to use Solver with `formulatext`.

Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver.

A manufacturer has the capability to produce both chairs and tables. Both products use the same resources, and the goal is to optimize production based on available resources and demand.

Add-ins are an easy and fast way to add new functionality to Excel. Solver Add-in is an important add-in that has to be enabled before it can be used. In Excel 2016, Solver is included with all versions of Excel.

Load your data:

The data must be arranged in a table before Solver can be used. Your model's decision variables are represented in the columns, and your constraints are represented in the rows.

Specify a formula for Solver to use:

Excel has a feature called "FormulaText." This is a function that allows you to build complex equations with a simple text input. FormulaText can be used to specify the formula that Solver will use to solve the optimization problem.

Set up the Solver model:

To set up the Solver model, you need to specify the decision variables, constraints, and objective function. In this case, you'll be minimizing the cost of producing chairs and tables.

Run Solver:

Solver will automatically find the best solution for your optimization problem. It will use the formula you specified in step 3 and the constraints and objective function you specified in step 4 to solve the problem.

To learn more about solver, refer below:

https://brainly.com/question/31530051

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