Group B10 Money manager Boris Milkem deals with Frenchcurrency (the franc) and American currency (the dollar). At12 midnight, he can buy francs by paying .25 dollars perfranc and dollars by paying 3 francs per dollar. Let x, =number of dollars bought (by paying francs) and x2 =number of francs bought (by paying dollars). Assume thatboth types of transactions take place simultaneously, andthe only constraint is that at 12:01 A.M. Boris must have anonnegative number of francs and dollars.a Formulate an LP that enables Boris to maximizethe number of dollars he has after all transactions arecompleted.b Graphically solve the LP and comment on theanswer.

a. Suppose, x1=number of dollars bought. x2=number of francs bought. Z=number of dollars available…

Answered: Group B 10 Money manager Boris Milkem…

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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The monthly demand for Williams Tchotchkes (q measured in 1000s of tchotchkes) depends on the price that they set for their tchotchkes (p measured in dollars), the average price of substitutes for their tchotchkes (p, also measured in dollars), and the average monthly disposable income in the market for tchotchkes (y measured in $1000s). The current prices are p = $10 and p₁ = $11, the current monthly demand for Williams Tchotchkes is 8000 tchotchkes and the current average monthly disposable income in the tchotchkes market is $3500. Furthermore, it is known that Əq Op p=10 Pg=11 y=3.5 = -0.31, Əq aps P=10 Pg=11 y=3.5 = 0.44 and Əq dy p=10 Pg=11 y=3.5 = 0.72. Scenario 1: Suppose that p increases by $0.20, p, increases by $0.35 (from their current values), and income doesn't change. In this scenario, monthly demand for Williams Tchotchkes' monthly will [Select] , and Williams Tchotchkes' monthly revenue will [Select] Scenario 2: Now (instead) suppose that average monthly income in the…
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A sprinter runs a 100meter dash at a constant rate of 8.25. Meters per second . A liner constraints models the relationship between the number of seconds since the start of the race an the distance remaining until the sprinter reaches the finish line. If the number of seconds since the distance remaining until the sprinter reaches the finish line if the number of seconds since the start of the race is independent variable which of the following solutions is viable. A.(5.5,54.625) B. (-2,116.5) C.(13,-7.25) D.(4.76)
1. Maximization Model. Answer in complete solution.
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