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Problem 1 Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 400 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 200 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the number of hats of each type that maximizes profit.

Problem 1 Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 400 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 200 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the number of hats of each type that maximizes profit.

Practical Management Science
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...
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Problem 1 Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 400 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 200 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the number of hats of each type that maximizes profit.
Transcribed Image Text:Problem 1 Wild West produces two types of cowboy hats. A Type 1 hat requires twice as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 400 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 200 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the number of hats of each type that maximizes profit.
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