A bar of soap uses 20g of honey and a bottle of hand cream uses 30g of honey. The group only has 4000g of honey. Each bar of soap contains 15 grams of coconut oil and a bottle of hand cream contains 10 grams of coconut oil. The group has access to 2 000g of coconut oil. Orders for 50 bars of soap and 20 bottles of hand cream have already been received. A bar of soap will make a $5 profit and a bottle of hand cream will make a $3 profit. Task 1 Given the current constraints determine the optimal number of bars of soap and bottles of hand cream the group should make in order to maximize their profit. Task 2 The group had a meeting with a business mentor who suggested that they should increase the price of their products so that their profit margin would increase. If the group decide to increase the price of each item, to change the profits to $6 for a bar of soap and S4 for a bottle of hand cream, discuss the implication this will have on the number of bars of soap and bottles of hand cream the group team should produce to maximize profit. Also, explain any assumptions and imitations of your solutions.
A bar of soap uses 20g of honey and a bottle of hand cream uses 30g of honey. The group only has 4000g of honey. Each bar of soap contains 15 grams of coconut oil and a bottle of hand cream contains 10 grams of coconut oil. The group has access to 2 000g of coconut oil. Orders for 50 bars of soap and 20 bottles of hand cream have already been received. A bar of soap will make a $5 profit and a bottle of hand cream will make a $3 profit. Task 1 Given the current constraints determine the optimal number of bars of soap and bottles of hand cream the group should make in order to maximize their profit. Task 2 The group had a meeting with a business mentor who suggested that they should increase the price of their products so that their profit margin would increase. If the group decide to increase the price of each item, to change the profits to $6 for a bar of soap and S4 for a bottle of hand cream, discuss the implication this will have on the number of bars of soap and bottles of hand cream the group team should produce to maximize profit. Also, explain any assumptions and imitations of your solutions.
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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