Problem Statement: A company having two items/products namely P-1 and P-2 with selling prices of 25 and 20respectively. The company has 1800 units of resources available every day to produce these items. An item P-1 requires 20 units of resources and P-2 needs 12 units of resources. The production time for both of these items is 4 minutes and the company gets total of 480 minutes working every day.The problem is, what should be the production quantity for each of these items to maximize the company’s profits?
Problem Statement: A company having two items/products namely P-1 and P-2 with selling prices of 25 and 20respectively. The company has 1800 units of resources available every day to produce these items. An item P-1 requires 20 units of resources and P-2 needs 12 units of resources. The production time for both of these items is 4 minutes and the company gets total of 480 minutes working every day.The problem is, what should be the production quantity for each of these items to maximize the company’s profits?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter4: Linear Programming Models
Section: Chapter Questions
Problem 93P
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Question
Formulate the linear programming problem
Problem Statement:
A company having two items/products namely P-1 and P-2 with selling prices of 25 and 20respectively. The company has 1800 units of resources available every day to produce these items. An item P-1 requires 20 units of resources and P-2 needs 12 units of resources. The production time for both of these items is 4 minutes and the company gets total of 480 minutes working every day.The problem is, what should be the production quantity for each of these items to maximize the company’s profits?
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