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A bank has two types of branches. A satellite branch employs 3 people, requires $400,000 to construct and open, and generates an average daily revenue of $10,000. A full-service branch employs 6 people, requires $560,000 to construct and open, and generates an average dally revenue of $18,000. The bank has up to $11.92 million available to open new branches and has decided to limit the new branches to a maximum of 25 and to hire at most 120 new employees. (a) How many branches of each type should the bank open maximize the average dally revenue? Find the maximum average dally revenue. satellite branches full-service branches maximum revenue (b) At the optimal solution from part (a), analyze the bank's constraints (number of new branches, number of new employees, and budget) to determine the "Amount Available," "Amount Used," and "Amount Not Used (Slack). branches possible used not used employees possible used not used budget possible million used million not used million

A bank has two types of branches. A satellite branch employs 3 people, requires $400,000 to construct and open, and generates an average daily revenue of $10,000. A full-service branch employs 6 people, requires $560,000 to construct and open, and generates an average dally revenue of $18,000. The bank has up to $11.92 million available to open new branches and has decided to limit the new branches to a maximum of 25 and to hire at most 120 new employees. (a) How many branches of each type should the bank open maximize the average dally revenue? Find the maximum average dally revenue. satellite branches full-service branches maximum revenue (b) At the optimal solution from part (a), analyze the bank's constraints (number of new branches, number of new employees, and budget) to determine the "Amount Available," "Amount Used," and "Amount Not Used (Slack). branches possible used not used employees possible used not used budget possible million used million not used million

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 28EQ
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A bank has two types of branches. A satellite branch employs 3 people, requires $400,000 to construct and open, and generates an average daily revenue of $10,000. A full-service branch employs 6 people, requires $560,000 to construct and open, and generates an average dally revenue of $18,000. The bank has up to $11.92 million available to open new branches and has decided to limit the new branches to a maximum of 25 and to hire at most 120 new employees. (a) How many branches of each type should the bank open maximize the average dally revenue? Find the maximum average dally revenue. satellite branches full-service branches maximum revenue (b) At the optimal solution from part (a), analyze the bank's constraints (number of new branches, number of new employees, and budget) to determine the "Amount Available," "Amount Used," and "Amount Not Used (Slack). branches possible used not used employees possible used not used budget possible million used million not used million
Transcribed Image Text:A bank has two types of branches. A satellite branch employs 3 people, requires $400,000 to construct and open, and generates an average daily revenue of $10,000. A full-service branch employs 6 people, requires $560,000 to construct and open, and generates an average dally revenue of $18,000. The bank has up to $11.92 million available to open new branches and has decided to limit the new branches to a maximum of 25 and to hire at most 120 new employees. (a) How many branches of each type should the bank open maximize the average dally revenue? Find the maximum average dally revenue. satellite branches full-service branches maximum revenue (b) At the optimal solution from part (a), analyze the bank's constraints (number of new branches, number of new employees, and budget) to determine the "Amount Available," "Amount Used," and "Amount Not Used (Slack). branches possible used not used employees possible used not used budget possible million used million not used million
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