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A manufacturer of calculators produces two models: standard and scientific. Long-term demand for the two models mandates that the company manufacture at least 100 standard and 40 scientific calculators each day. However, because of limitations on production capacity, no more than 220 standard and 210 scientific calculators can be made daily. To satisfy a shipping contract, a total of at least 220 calculators must be shipped every day. (a) If the production cost is $5 for a standard calculator and $7 for a scientific one, how many of each model should be produced daily to minimize this cost? 100 X standard 40 V scientific (b) If each standard calculator results in a $2 loss but each scientific one produces a $5 profit, how many of each model should be made daily to maximize profit? 100 standard 120 X scientific

A manufacturer of calculators produces two models: standard and scientific. Long-term demand for the two models mandates that the company manufacture at least 100 standard and 40 scientific calculators each day. However, because of limitations on production capacity, no more than 220 standard and 210 scientific calculators can be made daily. To satisfy a shipping contract, a total of at least 220 calculators must be shipped every day. (a) If the production cost is $5 for a standard calculator and $7 for a scientific one, how many of each model should be produced daily to minimize this cost? 100 X standard 40 V scientific (b) If each standard calculator results in a $2 loss but each scientific one produces a $5 profit, how many of each model should be made daily to maximize profit? 100 standard 120 X scientific

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter5: Systems Of Equations And Inequalities
Section: Chapter Questions
Problem 8P: Manufacturing Calculators A manufacturer of calculators produces two models; standard and...
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A manufacturer of calculators produces two models: standard and scientific. Long-term demand for the two models mandates that the company manufacture at least 100 standard and 40 scientific calculators each day. However, because of limitations on production capacity, no more than 220 standard and 210 scientific calculators can be made daily. To satisfy a shipping contract, a total of at least 220 calculators must be shipped every day. (a) If the production cost is $5 for a standard calculator and $7 for a scientific one, how many of each model should be produced daily to minimize this cost? 100 X standard 40 scientific (b) If each standard calculator results in a $2 loss but each scientific one produces a $5 profit, how many of each model should be made daily to maximize profit? 100 standard 120 X scientific
Transcribed Image Text:A manufacturer of calculators produces two models: standard and scientific. Long-term demand for the two models mandates that the company manufacture at least 100 standard and 40 scientific calculators each day. However, because of limitations on production capacity, no more than 220 standard and 210 scientific calculators can be made daily. To satisfy a shipping contract, a total of at least 220 calculators must be shipped every day. (a) If the production cost is $5 for a standard calculator and $7 for a scientific one, how many of each model should be produced daily to minimize this cost? 100 X standard 40 scientific (b) If each standard calculator results in a $2 loss but each scientific one produces a $5 profit, how many of each model should be made daily to maximize profit? 100 standard 120 X scientific
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