A factory manufactures three products. A. B, and C. Each product requires the use of two machines, Machine I and Machine IL. The total hours available, respectively, on Machine I and Machine II per month are 7.000 and 10.170. The time requirements and profit per unit for each product are listed below. ABC Machine I 4 8 Machine II 107 10 15 Profit $8 $13 $19 How many units of each product should be manufactured to maximize profit, and what is the maximum profit? Start by setting up the linear programming problem, with A. B. and C representing the number of units of each product that are produced. Maximize P %3D subject to: $7.000 S 10.170 Enter the solution below. If needed round numbers of items to 1 decimal place and profit to 2 decimal places. The maximum profit is S when the company produces: units of product A units of product B units of product C

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.