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April 20, 2014

Homework Help: business

Posted by uma on Wednesday, June 6, 2012 at 3:38am.

The Pyrotec Company produces three electrical products-clocks, radios and toasters. These products have the following resources requirements :
Resource Requirements
Cost/Unit Labor Hours/Unit
Clock $7 2
Radio 10 3
Toaster 5 2

The manufacturer has a daily production budget of $2,000 and maximum of 660 hours of labor. Maximum daily customer demand is for 200 clocks, 300 radios, and 150 toasters. Clocks sell for $15, radios for $20, and toasters for $12.The company wants to know the optimal product mix that will maximize profit.
a) Formulate a linear programming model for this problem;
b) Solve the model by using the computer.

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