A sporting goods store sells two types of exercise bikes. The deluxe model costs the store $400 from the manufacturer and the standard model costs the store $300 from the manufacturer. The profit that the store makes on the deluxe model is $180 and the profit on the standard model is $120. The monthly demand for exercise bikes is at most 30. Furthermore, the store manager does not want to spend more than $9600 on inventory for exercise bikes. a. Determine the number of deluxe models and the number of standard models that the store should have in its inventory each month to maximize profit. (Assume that all exercise bikes in inventory are sold.) b. What is the maximum profit? c. If the profit on the deluxe bikes were $150 and the profit on the standard bikes remained the same, how many of each should the store have to maximize profit?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
A sporting goods store sells two types of exercise bikes. The deluxe model costs the store $400 from the manufacturer and the standard model costs the store $300 from the manufacturer. The profit that the store makes on the deluxe model is $180 and the profit on the standard model is $120. The monthly demand for exercise bikes is at most 30. Furthermore, the store manager does not want to spend more than $9600 on inventory for exercise bikes.
a. Determine the number of deluxe models and the number of standard models that the store should have in its inventory each month to maximize profit. (Assume that all exercise bikes in inventory are sold.)
b. What is the maximum profit?
c. If the profit on the deluxe bikes were $150 and the profit on the standard bikes remained the same, how many of each should the store have to maximize profit?
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