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(a) Find the objective function to be used to maximize profit. Let x, be the number of Basic Sets, let x, be the number of Regular Sets, and let x be the number of Deluxe Sets What is the objective function? (Do not include the S symbol in your answers)

(a) Find the objective function to be used to maximize profit. Let x, be the number of Basic Sets, let x, be the number of Regular Sets, and let x be the number of Deluxe Sets What is the objective function? (Do not include the S symbol in your answers)

Advanced Engineering Mathematics
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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A company sells sets of kitchen knives. A Basic Set consists of 2 utility knives and 1 chefs knife A Regular Set consists of 2 utility knives, 1 chefs knife, and 1 slicer. A Deluxe Set consists of 3 utility knives, 1 chefs knife, and 1 slicer. The profit is $40 on a Basic Set. $50 on a Regular Set, and $70 on a Deluxe Set The factory has on hand 400 utility knives, 200 chef's knives, and 100 slicers. (a) If all sets will be sold, how many of each type should be made up in order to maximize profit? What is the maximum profit? (b) A consultant for the company notes that more profit is made on a Regular Set than on a Basic Set, yet the result from part (a) recommends making up more Basic Sets than Regular Sets. She is puzzled how this can be the best solution. How would you respond? (a) Find the objective function to be used to maximize profit. Let x, be the number of Basic Sets, lot x, be the number of Regular Sets, and let x, be the number of Deluxe Sets What is the objective function? (Do not include the S symbol in your answers)
Transcribed Image Text:A company sells sets of kitchen knives. A Basic Set consists of 2 utility knives and 1 chefs knife A Regular Set consists of 2 utility knives, 1 chefs knife, and 1 slicer. A Deluxe Set consists of 3 utility knives, 1 chefs knife, and 1 slicer. The profit is $40 on a Basic Set. $50 on a Regular Set, and $70 on a Deluxe Set The factory has on hand 400 utility knives, 200 chef's knives, and 100 slicers. (a) If all sets will be sold, how many of each type should be made up in order to maximize profit? What is the maximum profit? (b) A consultant for the company notes that more profit is made on a Regular Set than on a Basic Set, yet the result from part (a) recommends making up more Basic Sets than Regular Sets. She is puzzled how this can be the best solution. How would you respond? (a) Find the objective function to be used to maximize profit. Let x, be the number of Basic Sets, lot x, be the number of Regular Sets, and let x, be the number of Deluxe Sets What is the objective function? (Do not include the S symbol in your answers)
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