Finite Mathematics and Calculus with Applications
1st Edition
ISBN: 9781323188361
Author: Margaret Lial
Publisher: Pearson Education
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 4.4, Problem 27E
Finance A bank has set aside a maximum of $25 million for commercial and home loans. Every million dollars in commercial loans requires 2 lengthy application forms, while every million dollars in home loans requires 3 lengthy application forms. The bank cannot process more than 72 application forms at this time. The bank’s policy is to loan at least four times as much for home loans as for commercial loans. Because of prior commitments, at least $10 million will be used for these two types of loans. The bank earns 10% on commercial loans and 12% on home loans. What amount of money should be allotted for each type of loan to maximize the interest income?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Timothy Gartner, an employee in the Bank of Trust and Faith, has requested for a loan of
$200,000 to buy a private cruise. The bank has an unimpaired capital and surplus of $38
million and $75 million in total time and savings deposits. Average revenue for the bank in the
last three years is $18.5 million and a net interest income of $5.2 million. What is the
maximum amount of loan the bank can grant to Timothy?
A. $950,000
B. $200,000
C. $25,000
D. $100,000
CWD Electronics sells Televisions (TV), which it orders from the USA. Because of shipping and handling costs, each order must be for 10 TVs. Because of the time it takes to receive an order, the company places an order every time the present stock drops to 5 TVs. It costs $50 to place anorder. It costs the company $200 in lost sales when a customer asks for a TV and the warehouse is out of stock. It costs $50 to keep each TV stored in the warehouse. If a customer cannot purchase a TV when it is requested, the customer will not wait until one comes in but will go to a competitor.The following probability distribution for demand for TV has been and the time required to receive an order once it is placed (lead time) has the following probability distribution: (Attached)
The company has 10 TVs in stock. Orders are always received at the beginning of the week.Note that a lead time of 2 weeks imply that an order placed in week one will arrive in week 4.Hint. No order is placed until the…
The Metropolitan Bus Company (MBC) purchases diesel fuel from American PetroleumSupply. In addition to the fuel cost, American Petroleum Supply charges MBC $250 perorder to cover the expenses of delivering and transferring the fuel to MBC’s storage tanks.The lead time for a new shipment from American Petroleum is 10 days; the cost of holding a gallon of fuel in the storage tanks is $0.04 per month, or $0.48 per year; and annualfuel usage is 150,000 gallons. MBC buses operate 300 days a year.a. What is the optimal order quantity for MBC?b. How frequently should MBC order to replenish the gasoline supply?c. The MBC storage tanks have a capacity of 15,000 gallons. Should MBC considerexpanding the capacity of its storage tanks?d. What is the reorder point?
Chapter 4 Solutions
Finite Mathematics and Calculus with Applications
Ch. 4.1 - Prob. 1YTCh. 4.1 - Prob. 2YTCh. 4.1 - Prob. 1ECh. 4.1 - Prob. 2ECh. 4.1 - Prob. 3ECh. 4.1 - Convert each inequality into an equation by adding...Ch. 4.1 - For Exercises 58, (a) determine the number of...Ch. 4.1 - Prob. 6ECh. 4.1 - Prob. 7ECh. 4.1 - Prob. 8E
Ch. 4.1 - Prob. 9ECh. 4.1 - Prob. 10ECh. 4.1 - Prob. 11ECh. 4.1 - Prob. 12ECh. 4.1 - Prob. 13ECh. 4.1 - Prob. 14ECh. 4.1 - Prob. 15ECh. 4.1 - Prob. 16ECh. 4.1 - Prob. 17ECh. 4.1 - Prob. 18ECh. 4.1 - Prob. 19ECh. 4.1 - Prob. 20ECh. 4.1 - Prob. 21ECh. 4.1 - Prob. 22ECh. 4.1 - Pivot once as indicated in each simplex tableau....Ch. 4.1 - Prob. 24ECh. 4.1 - Prob. 25ECh. 4.1 - Prob. 26ECh. 4.1 - Set up Exercises 2731 for solution by the simplex...Ch. 4.1 - Prob. 28ECh. 4.1 - Prob. 29ECh. 4.1 - Set up Exercises 2731 for solution by the simplex...Ch. 4.1 - Prob. 31ECh. 4.2 - Use the simplex method to solve the problem in...Ch. 4.2 - Pivot on the 4 in Example 2 and write the...Ch. 4.2 - Prob. 1WECh. 4.2 - Prob. 2WECh. 4.2 - Prob. 3WECh. 4.2 - Prob. 4WECh. 4.2 - In Exercises 16, the initial tableau of a linear...Ch. 4.2 - In Exercises 16, the initial tableau of a linear...Ch. 4.2 - In Exercises 16, the initial tableau of a linear...Ch. 4.2 - In Exercises 16, the initial tableau of a linear...Ch. 4.2 - In Exercises 16, the initial tableau of a linear...Ch. 4.2 - In Exercises 16, the initial tableau of a linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Use a graphing calculator, Excel, or other...Ch. 4.2 - Use a graphing calculator, Excel, or other...Ch. 4.2 - The simplex algorithm still works if an indicator...Ch. 4.2 - What goes wrong if a quotient other than the...Ch. 4.2 - Prob. 21ECh. 4.2 - Prob. 22ECh. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Profit A manufacturer makes two products, toy...Ch. 4.2 - Profit The Ball Company manufactures three types...Ch. 4.2 - Profit The Golden Hawk Manufacturing Company wants...Ch. 4.2 - Set up and solve Exercises 3540 by the simplex...Ch. 4.2 - Prob. 36ECh. 4.2 - Set up and solve Exercises 3540 by the simplex...Ch. 4.2 - Set up and solve Exercises 3540 by the simplex...Ch. 4.2 - Set up and solve Exercises 3540 by the simplex...Ch. 4.2 - Prob. 40ECh. 4.3 - Prob. 1YTCh. 4.3 - Prob. 2YTCh. 4.3 - Prob. 1WECh. 4.3 - Prob. 2WECh. 4.3 - Prob. 1ECh. 4.3 - Prob. 2ECh. 4.3 - Prob. 3ECh. 4.3 - Prob. 4ECh. 4.3 - Prob. 5ECh. 4.3 - Prob. 6ECh. 4.3 - Prob. 7ECh. 4.3 - Prob. 8ECh. 4.3 - Prob. 9ECh. 4.3 - Use the simplex method to solve. 10. Find y1 0...Ch. 4.3 - Use the simplex method to solve. 11. Find y1 0...Ch. 4.3 - Use the simplex method to solve. 12....Ch. 4.3 - Prob. 13ECh. 4.3 - Use the simplex method to solve. 14....Ch. 4.3 - Use the simplex method to solve. 15....Ch. 4.3 - Prob. 16ECh. 4.3 - Prob. 17ECh. 4.3 - Suppose the coefficient of 3 in the objective...Ch. 4.3 - Business and Economics 19. Production Costs A...Ch. 4.3 - Prob. 20ECh. 4.3 - Prob. 21ECh. 4.3 - In most examples of this section, the original...Ch. 4.3 - Prob. 23ECh. 4.3 - Business and Economics 24. Animal Food An animal...Ch. 4.3 - Prob. 25ECh. 4.3 - Prob. 26ECh. 4.3 - Prob. 27ECh. 4.3 - Prob. 28ECh. 4.3 - Prob. 29ECh. 4.4 - Prob. 1YTCh. 4.4 - Finish the missing steps in Example 2 and show the...Ch. 4.4 - Prob. 1ECh. 4.4 - Prob. 2ECh. 4.4 - Prob. 3ECh. 4.4 - Prob. 4ECh. 4.4 - Prob. 5ECh. 4.4 - Prob. 6ECh. 4.4 - Prob. 7ECh. 4.4 - Prob. 8ECh. 4.4 - Use the simplex method to solve. 9. Find x1 0 and...Ch. 4.4 - Prob. 10ECh. 4.4 - Use the simplex method to solve. 11. Find x1 0,...Ch. 4.4 - Prob. 12ECh. 4.4 - Prob. 13ECh. 4.4 - Prob. 14ECh. 4.4 - Prob. 15ECh. 4.4 - Prob. 16ECh. 4.4 - Solve using artificial variables. 17.Ch. 4.4 - Prob. 18ECh. 4.4 - Solve using artificial variables. 19.Ch. 4.4 - Solve using artificial variables. 20.Ch. 4.4 - Prob. 21ECh. 4.4 - Prob. 22ECh. 4.4 - Prob. 23ECh. 4.4 - Transportation Change Exercise 23 so that the two...Ch. 4.4 - Transportation The manufacturer of a popular...Ch. 4.4 - Investments Deb Harden has decided to invest a...Ch. 4.4 - Finance A bank has set aside a maximum of 25...Ch. 4.4 - Blending Seed Topgrade Turf lawn seed mixture...Ch. 4.4 - Blending Seed Change Exercise 28 so that the...Ch. 4.4 - Prob. 30ECh. 4.4 - Blending Chemicals Natural Brand plant food is...Ch. 4.4 - Prob. 32ECh. 4.4 - Calorie Expenditure Joe Veteres exercise regimen...Ch. 4 - CONCEPT CHECK Determine whether each of the...Ch. 4 - Prob. 2RECh. 4 - Prob. 3RECh. 4 - Prob. 4RECh. 4 - Prob. 5RECh. 4 - Prob. 6RECh. 4 - Prob. 7RECh. 4 - Prob. 8RECh. 4 - Prob. 9RECh. 4 - Prob. 10RECh. 4 - Prob. 11RECh. 4 - Prob. 12RECh. 4 - CONCEPT CHECK Determine whether each of the...Ch. 4 - CONCEPT CHECK Determine whether each of the...Ch. 4 - Prob. 15RECh. 4 - Prob. 16RECh. 4 - Prob. 17RECh. 4 - Prob. 18RECh. 4 - For each problem, (a) add slack variables or...Ch. 4 - For each problem, (a) add slack variables or...Ch. 4 - Use the simplex method to solve each maximization...Ch. 4 - Prob. 22RECh. 4 - Prob. 23RECh. 4 - Prob. 24RECh. 4 - Convert each problem into a maximization problem...Ch. 4 - Convert each problem into a maximization problem...Ch. 4 - Convert each problem into a maximization problem...Ch. 4 - Prob. 28RECh. 4 - Prob. 29RECh. 4 - Prob. 30RECh. 4 - Use the simplex method to solve each problem. (You...Ch. 4 - Prob. 32RECh. 4 - Prob. 33RECh. 4 - Prob. 34RECh. 4 - In solving a linear programming problem, you are...Ch. 4 - In Chapter 2 we wrote a system of linear equations...Ch. 4 - Prob. 37RECh. 4 - Prob. 38RECh. 4 - Prob. 39RECh. 4 - APPLICATIONS For Exercises 3740, (a) select...Ch. 4 - Solve Exercise 37. Business and Economics 37....Ch. 4 - Solve Exercise 38. Business and Economics 38....Ch. 4 - Solve Exercise 39. 39. Profit The Aged Wood Winery...Ch. 4 - Solve Exercise 40. 40. Production Costs Cauchy...Ch. 4 - Canning Cauchy Canners produces canned corn,...Ch. 4 - Food Cost A store sells two brands of snacks. A...Ch. 4 - Calorie Expenditure Gingers exercise regimen...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.Similar questions
- What is the total effect on the economy of a government tax rebate of $1,000 to each household in order to stimulate the economy if each household will spend 90% of the rebate in goods and services?arrow_forwardIf during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.arrow_forwardChristian has been offered a new job that pays $24,000 a year plus 3% of sales. For what total sales would this new job pay more than his current job which pays $60,000?arrow_forward
- If a company issues common stock for $48800 and uses $36600 of the cash to purchase a truck, O assets will be increased by $12200. O equity will be reduced by $48800. O assets will be unchanged. O assets will be increased by $48800.arrow_forwardHannah Ortega is considering expanding her business. She plans to hire a salesperson to cover trade shows. Because of compensation, travel expenses, and booth rental, fixed costs for a trade show are expected to be $10,250. The booth will be open 25 hours during the trade show. Ms. Ortega also plans to add a new product line, ProOffice, which will cost $179 per package. She will continue to sell the existing product, EZRecords, which costs $92 per package. Ms. Ortega believes that the salesperson will spend approximately 15 hours selling EZRecords and 10 hours marketing ProOffice. Required a. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 89 units of EZRecords and 43 units of ProOffice. b. Determine the estimated total cost and cost per unit of each product, assuming that the salesperson is able to sell 194 units of EZRecords and 100 units of ProOffice. (For all requirements, round "Cost per unit" to 2 decimal…arrow_forwardAn organic juice company would like to increase its production of juice. The company’s plan for the next five months is to increase the num- ber of gallons of juice it produces each month by 400 gal. For the five-month period, the company wants to produce at least 8500 gal of juice. What is the minimum number of gallons of juice the company can produce in the first month if it is to achieve its goal?arrow_forward
- Last week, a bottling company produced a total carton of 12000 bottled drinking water in three different litres classified as 0.5L, 1.0L, and 1.5L. The company earned a 10% return on 0.5L bottled water, an 8% return on 1.0L bottled water, and a 12% return on 1.5L bottled water. The total return earned last week amounted to ¢1230. The total cartons of bottled drinking water produced in 0.5L and 1.0L equalled the cartons of 1.5L produced last week. Formulate the simultaneous linear system of equations that when solved will give the number of cartons of each litre of bottled drinking water produced last week. Hence, solve the resulting system of equations obtained to find how many cartons of each litre of bottled drinking water were produced last week.arrow_forwardFlint lab produces 4 high tech product types. Each of the products must be wired, drilled, assembled and checked for quality standard before being delivered to consumers. The time requirement and profit for each product are as follows. Product A: 0.5 hr for wiring, 3 hrs for drilling, 1 hr for assembling, and 0.5 hr for inspection. One product A can be sold for $10 per unit. Product B: 1.5 hr for wiring, 1 hrs for drilling, 3 hrs for assembling, and 1 hr for inspection. One product B can be sold for $13 per unit. Product C: 1.5 hr for wiring, 2 hrs for drilling, 3 hrs for assembling, and 0.5 hr for inspection. One product C can be sold for $16 per unit. Product D: 1 hr for wiring, 3 hrs for drilling, 2 hrs for assembling, and 0.5 hr for inspection. One product D can be sold for $12 per unit. The maximum capacity for wiring, drilling, assembly, and inspection are 1500 hrs; 2350 hrs; 2600 hrs; and 1200 hrs respectively. Flint lab requires that there will be at least 150 units of A, 100…arrow_forwardAsaparrow_forward
- The average yearly salary of a woman with a bachelor’s degree exceeds that of a woman with an associate’s degree by $14 thousand. The averageyearly salary of a woman with a master’s degree exceeds that of a woman with an associate’s degree by $26 thousand. Combined, three women with each of these educational attainments earn $139 thousand. Find the average yearly salary of women with each of these levels of education.arrow_forwardA beauty shop specializing in permanents has fixed costs of $1987.20 per month. The owner estimates that the cost for each permanent is $23.60, which covers labor, chemicals, and electricity. If her shop can give as many permanents as she wants at a price of $42 each, how many must be given each month to break even? O108 permanents O109 permanents O106 permanents O103 permanents O105 permanentsarrow_forwardshow the complete solution.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
Elementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice University
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell
Elementary Algebra
Algebra
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:OpenStax - Rice University
Solve ANY Optimization Problem in 5 Steps w/ Examples. What are they and How do you solve them?; Author: Ace Tutors;https://www.youtube.com/watch?v=BfOSKc_sncg;License: Standard YouTube License, CC-BY
Types of solution in LPP|Basic|Multiple solution|Unbounded|Infeasible|GTU|Special case of LP problem; Author: Mechanical Engineering Management;https://www.youtube.com/watch?v=F-D2WICq8Sk;License: Standard YouTube License, CC-BY
Optimization Problems in Calculus; Author: Professor Dave Explains;https://www.youtube.com/watch?v=q1U6AmIa_uQ;License: Standard YouTube License, CC-BY
Introduction to Optimization; Author: Math with Dr. Claire;https://www.youtube.com/watch?v=YLzgYm2tN8E;License: Standard YouTube License, CC-BY