1) The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgages. The expected profit is $10 per unit on special risk insurance and $20 per unit on mortgages. Management wishes to establish sales quotas for the new product lines to maximize total expected profit. The work requirements are as follows: Department Underwriting Administration Claims Work-Hours per Unit Special Risk Mortgage 2 3 0 2 3 0 Work-Hours Available 2, 400 800 1,500 REQUIREMENTS: a) Formulate the appropriate linear programming model for this problem. b) Develop the standard form of the LP model for simplex application. c) Obtain simplex tableaus for Iteration 0 and Iteration 1. d) Obtain the optimum solution using the Excel Solver.

1) The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgages. The expected profit is $10 per unit on special risk insurance and $20 per unit on mortgages. Management wishes to establish sales quotas for the new product lines to maximize total expected profit. The work requirements are as follows: Department Underwriting Administration Claims Work-Hours per Unit Special Risk Mortgage 2 3 0 2 3 0 Work-Hours Available 2, 400 800 1,500 REQUIREMENTS: a) Formulate the appropriate linear programming model for this problem. b) Develop the standard form of the LP model for simplex application. c) Obtain simplex tableaus for Iteration 0 and Iteration 1. d) Obtain the optimum solution using the Excel Solver.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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