Manufacturing Calculators A manufacturer of calculators produces two models: stan- dard and scientific. Long-term demand for the two models mandates that the company manufacture at least 100 standard and 80 scientific calculators each day. However, because of limitations on production capacity, no more than 200 standard and 170 scientific calcula- tors can be made daily. To satisfy a shipping contract, a total of at least 200 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? (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?
Manufacturing Calculators A manufacturer of calculators produces two models: stan- dard and scientific. Long-term demand for the two models mandates that the company manufacture at least 100 standard and 80 scientific calculators each day. However, because of limitations on production capacity, no more than 200 standard and 170 scientific calcula- tors can be made daily. To satisfy a shipping contract, a total of at least 200 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? (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?
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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Transcribed Image Text:Manufacturing Calculators A manufacturer of calculators produces two models: stan-
dard and scientific. Long-term demand for the two models mandates that the company
manufacture at least 100 standard and 80 scientific calculators each day. However, because
of limitations on production capacity, no more than 200 standard and 170 scientific calcula-
tors can be made daily. To satisfy a shipping contract, a total of at least 200 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?
(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?
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