A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $10 each for the first 50 units, $9 each for units 51−100, and $8 for each unit over 100. Product 2’s profitability is $20 each for the first 25 units, $19 each for units 26−50, and $18 each for each unit over 50. The products each require 3 raw materials to produce (see table below for usages and available quantities). Raw Material Product 1 usage (pounds per unit) Product 2 usage (pounds per unit) Available Quantity (pounds) A 5 4 800 B 12 10 2,000 C 1,000 2,000 190,000 Use separable programming to find the optimal production plan. Note :Round all quantities to the nearest whole number and round profits to 2 decimal places. _______ units of Product 1 and _______ units of product 2. The total profit from this plan will be _______.
A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $10 each for the first 50 units, $9 each for units 51−100, and $8 for each unit over 100. Product 2’s profitability is $20 each for the first 25 units, $19 each for units 26−50, and $18 each for each unit over 50. The products each require 3 raw materials to produce (see table below for usages and available quantities). Raw Material Product 1 usage (pounds per unit) Product 2 usage (pounds per unit) Available Quantity (pounds) A 5 4 800 B 12 10 2,000 C 1,000 2,000 190,000 Use separable programming to find the optimal production plan. Note :Round all quantities to the nearest whole number and round profits to 2 decimal places. _______ units of Product 1 and _______ units of product 2. The total profit from this plan will be _______.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
A firm offers three different prices on its products, depending upon the quantity purchased. Since available resources are limited, the firm would like to prepare an optimal production plan to maximize profits. Product 1 has the following profitability: $10 each for the first 50 units, $9 each for units 51−100, and $8 for each unit over 100. Product 2’s profitability is $20 each for the first 25 units, $19 each for units 26−50, and $18 each for each unit over 50. The products each require 3 raw materials to produce (see table below for usages and available quantities).
| Raw Material | Product 1 usage (pounds per unit) | Product 2 usage (pounds per unit) | Available Quantity (pounds) |
|---|---|---|---|
| A | 5 | 4 | 800 |
| B | 12 | 10 | 2,000 |
| C | 1,000 | 2,000 | 190,000 |
Use separable programming to find the optimal production plan.
Note :Round all quantities to the nearest whole number and round profits to 2 decimal places.
_______ units of Product 1 and _______ units of product 2. The total profit from this plan will be _______.
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.