The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgages. The expected profit is $5 per unit on special risk insurance and $2 per unit on mortgages. Management wishes to establish sales quotas for the new product lines to maximize total expected profit. The work requirements are shown below Department Underwriting Administration Work-Hours per Unit Special Risk 3 O Mortgage Work-Hours Available d) Solve graphically submit on scanned graph paper( e) Solve in excel using the template provided ( 2,400 800 1,200 Claims a) Identify verbally the decisions to be made, the objective and the constraints( b) Formulate the problem in table form c) Formulate the problem algebraically(

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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The Primo Insurance Company is introducing two new product lines: special risk insurance
and mortgages. The expected profit is $5 per unit on special risk insurance and $2 per unit on
mortgages.
Management wishes to establish sales quotas for the new product lines to maximize total
expected profit. The work requirements are shown below
Department
Underwriting
Administration
Work-Hours per Unit
Special
Risk
3
Mortgage
Work-Hours
Available
d) Solve graphically submit on scanned graph paper(
e) Solve in excel using the template provided (
2,400
800
1,200
Claims
a) Identify verbally the decisions to be made, the objective and the constraints(
b) Formulate the problem in table form(
c) Formulate the problem algebraically(
Transcribed Image Text:The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgages. The expected profit is $5 per unit on special risk insurance and $2 per unit on mortgages. Management wishes to establish sales quotas for the new product lines to maximize total expected profit. The work requirements are shown below Department Underwriting Administration Work-Hours per Unit Special Risk 3 Mortgage Work-Hours Available d) Solve graphically submit on scanned graph paper( e) Solve in excel using the template provided ( 2,400 800 1,200 Claims a) Identify verbally the decisions to be made, the objective and the constraints( b) Formulate the problem in table form( c) Formulate the problem algebraically(
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