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|A bank has two types of branches. A satellite branch employs 3 people, requires P2,500,000 to construct and open, and generates an average daily revenue of P4,000,000. A full-service branch employs 6 people, requires P5,500,000 to construct and open, and generates an average daily revenue of P7,000,000. The bank has up to P80,000,000 available to open new branches, and has decided to limit the new branches to a maximum of 20 and to hire at most 120 employees. How many branches of each type should the bank open in order to maximize the average daily revenue?

|A bank has two types of branches. A satellite branch employs 3 people, requires P2,500,000 to construct and open, and generates an average daily revenue of P4,000,000. A full-service branch employs 6 people, requires P5,500,000 to construct and open, and generates an average daily revenue of P7,000,000. The bank has up to P80,000,000 available to open new branches, and has decided to limit the new branches to a maximum of 20 and to hire at most 120 employees. How many branches of each type should the bank open in order to maximize the average daily revenue?

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 6EQ: Redo Exercise 5, assuming that the house blend contains 300 grams of Colombian beans, 50 grams of...
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  1. formulate the LP Model;
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  3. determine the optimal solution using graphical method.

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|A bank has two types of branches. A satellite branch employs 3 people, requires P2,500,000 to construct and open, and generates an average daily revenue of P4,000,000. A full-service branch employs 6 people, requires P5,500,000 to construct and open, and generates an average daily revenue of P7,000,000. The bank has up to P80,000,000 available to open new branches, and has decided to limit the new branches to a maximum of 20 and to hire at most 120 employees. How many branches of each type should the bank open in order to maximize the average daily revenue?
Transcribed Image Text:|A bank has two types of branches. A satellite branch employs 3 people, requires P2,500,000 to construct and open, and generates an average daily revenue of P4,000,000. A full-service branch employs 6 people, requires P5,500,000 to construct and open, and generates an average daily revenue of P7,000,000. The bank has up to P80,000,000 available to open new branches, and has decided to limit the new branches to a maximum of 20 and to hire at most 120 employees. How many branches of each type should the bank open in order to maximize the average daily revenue?
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