Solution
[NOTE:
Answers are given below. Detailed Working and Back-up Theory follow at the end.]
R80: 12 units, Answer 1
G150: 42 units, Answer 2
Best profit: $744 Answer 3
Back-up Theory
The solution is obtained by graphical method. The optimum solution occurs at one of the corner points of the convex polygon representing the feasible region.
Now to work out the solution,
Formulation
Let x = number of R80 and y = number of G150.
Then, the LPP is:
Maximize Z = 13x + 14y [profit function]
Subject to,
6x + 2y ≤ 156 [Plastic constraint]
2x + 6y ≤ 156 [Metal constraint]
x ≤ 16 [Demand constraint]
x, y ≥ 0 [Non-negativity constraint]
Solution by graphical method
Treating each of the above inequalities as equations, each representing a straight line, the feasible region is found to be the convex polygon, OPQRSO, where O = (0, 0), P = (0, 46), Q = (12,42),
R = (16, 30), S = (16, 0).
The value of Z at each of these corner points is:
ZO = 0, ZP = 644, ZQ = 744, ZR = 628, ZS = 208.
Since ZQ = 744 is maximum, the optimum solution is: x = 12, y = 42, Z = 744. ANSWER
DONE
players. Trevor runs a factory that makes Blu-ray players. Each R80 takes 6 ounces of plastic...
6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell Blu-ray players: Movietonia and Videotech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its players. For example, the lower-left cell shows that if Movietonia prices low and Videotech prices high, Movietonia will earn a profit of $18 million, and Videotech will earn a profit of $2...
You are an eager and ambitious young graduate of the Reginal F. Lewis College of Business at Virginia State University with a new Accounting degree and a great life ahead of you. One of your closest friends is an inventor and an entrepreneur who wants to start a business selling a break-through new drywall screw that he has invented and that he believes works much better than the drywall screws currently on the market. He wants to start the business...
Identify the cost issues facing the firm in this case. Chrystal Moulding and Repairs Works (CMRW) is a successful SME based in Ashhurst, a small rural town close to Palmerston North. CMRW manufactures a variety of products and provides a range of services to clients. Work involves (a) moulding of plastics and other materials, (b) custom builds using plastic, fibreglass, kevlar, carbon fibre and other new age materials and (c) the repair of anything using these materials. George Hood, one...
Please use own words. Thank you.
CASE QUESTIONS AND DISCUSSION > Analyze and discuss the questions listed below in specific detail. A minimum of 4 pages is required; ensure that you answer all questions completely Case Questions Who are the main players (name and position)? What business (es) and industry or industries is the company in? What are the issues and problems facing the company? (Sort them by importance and urgency.) What are the characteristics of the environment in which...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...