Industrial Designs has been awarded a contract to design a label for a new wine produced by Lake View Winery. The company estimates that 120 hours will be required to complete the project. The firm's three graphic designers available for assignment to this project are Lisa, a senior designer and team leader; David, a senior designer; and Sarah, a junior designer. Because Lisa has worked on several projects for Lake View Winery, management specified that Lisa must be assigned at least 40% of the total number of hours assigned to the two senior designers. To provide label designing experience for Sarah, the junior designer must be assigned at least 15% of the total project time. However, the number of hours assigned to Sarah must not exceed 25% of the total number of hours assigned to the two senior designers. Due to other project commitments, Lisa has a maximum of 50 hours available to work on this project. Hourly wage rates are $30 for Lisa, $25 for David, and $18 for Sarah. (a) Formulate a linear program that can be used to determine the number of hours each graphic designer should be assigned to the project to minimize total cost (in dollars). (Assume L is the number of hours Lisa is assigned to the project, D is the number of hours David is assigned to the project, and S is the number of hours Sarah is assigned to the project.) Min 30L +25D+18S s.t. Minimum Lisa Minimum Sarah L≥0.4(L+D) S≥0.15(D+L+S) Maximum Lisa L≤ 50 Maximum Sarah Total Time L, D, S≥ 0 S≤0.25(L+D) L+D+S 120 (b) How many hours should be assigned to each graphic designer? Lisa's Hours David's Hours Sarah's Hours What is the total cost (in dollars)? $ × hours × hours × hours
Industrial Designs has been awarded a contract to design a label for a new wine produced by Lake View Winery. The company estimates that 120 hours will be required to complete the project. The firm's three graphic designers available for assignment to this project are Lisa, a senior designer and team leader; David, a senior designer; and Sarah, a junior designer. Because Lisa has worked on several projects for Lake View Winery, management specified that Lisa must be assigned at least 40% of the total number of hours assigned to the two senior designers. To provide label designing experience for Sarah, the junior designer must be assigned at least 15% of the total project time. However, the number of hours assigned to Sarah must not exceed 25% of the total number of hours assigned to the two senior designers. Due to other project commitments, Lisa has a maximum of 50 hours available to work on this project. Hourly wage rates are $30 for Lisa, $25 for David, and $18 for Sarah. (a) Formulate a linear program that can be used to determine the number of hours each graphic designer should be assigned to the project to minimize total cost (in dollars). (Assume L is the number of hours Lisa is assigned to the project, D is the number of hours David is assigned to the project, and S is the number of hours Sarah is assigned to the project.) Min 30L +25D+18S s.t. Minimum Lisa Minimum Sarah L≥0.4(L+D) S≥0.15(D+L+S) Maximum Lisa L≤ 50 Maximum Sarah Total Time L, D, S≥ 0 S≤0.25(L+D) L+D+S 120 (b) How many hours should be assigned to each graphic designer? Lisa's Hours David's Hours Sarah's Hours What is the total cost (in dollars)? $ × hours × hours × hours
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education