OPTIMIZING PROFIT FOR COLD FORMULAS Beyer Pharmaceutical produces three kinds of cold formulas: I, II, and III. It takes
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Chapter 4 Solutions
Finite Mathematics for the Managerial, Life, and Social Sciences
- Manufacturing Calculators 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 80 scientific calculators each day. However, because of limitations on production capacity, no more than 200 standard and 170 scientific calculators 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) Id each standard calculator results in a $2 loss but each but each scientific one produces a $5 profit, how many of each model should daily to maximize profit?arrow_forwardManufacturing Calculators 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 80 scientific calculators each day. However, because of limitations on production capacity, no more than 200 standard and 170 scientific calculators can be made daily. To satisfy a shopping contract, a total of at least 200 calculators must be shipped very day. aIf 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. bIf each standard calculator results in a 2 loss but each scientific one produces a 5 profit, how many of each model should be made easily to maximize profit.arrow_forwardBusiness Strategy A small software company publishes computer games, Educational software, and utility software. Their business strategy is to market a total of 36 new programs each year, at least four of these being games. The number of utility programs published is never more than twice the number of educational programs. On average, the company makes an annual profit of $5000 on each computer game,$8000 on each educational program, and $6000 on each utility program. How many of each type of software should the company publish annually for maximum profit?arrow_forward
- Business StrategyA small software company publishes computer games, educational software, and utility software. Their business strategy is to market a total of 36 new programs each year, at least four of these being games. The number of utility programs published is never more than twice the number of educational programs. On average, the company makes an annual profit of 5000 on each computer game, 8000 on each educational program, and 6000 on each utility program. How many of each type of software should the company publish annually for maximum profit?arrow_forwardOptimal Profit A manufacturer produces two models of elliptical cross-training exercise machines. The times for assembling, finishing, and packaging model X are 3 hours, 3 hours, and 0.8 hour, respectively. The times for model Y are 4 hours, 2.5 hours, and 0.4 hour. The total times available for assembling, finishing, and packaging are 6000 hours, 4200 hours, and 950 hours, respectively. The profits per unit are $300 for model X and $375 for model Y. What is the optimal production level for each model? What is the optimal profit?arrow_forward
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