Project Design The Megabuck Hospital Corporation is to build a state-subsidized nursing home serving homeless patients as well as high-income patients. State regulations require that every subsidized nursing home must house a minimum of 1,000 homeless patients and no more than 750 high-income patients in order to qualify for state subsidies. The overall capacity of the nursing home is to be 2,1 00 patients. The board of directors, under pressure from a neighborhood group, insists that the number of homeless patients should not exceed twice the number of high income patients. Because of the state subsidy, the nursing home will make an average profit of $10,000 per month for every homeless patient it houses, whereas the profit per high-income patient is estimated at $8,000 per month. How many of each type of patient should the nursing home house to maximize profit? [HINT: See Example 3.]
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Finite Mathematics
- If during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.arrow_forwardA Tailor has the following material 16 square yard cotton, 11 square yard silk and 15 squareyard wool. As suit requires 2 square yard cotton, 1 square yard silk and 1 square yard wool. A gownrequires 1 square yard cotton, 2 square yard silk and 3 square yard wool. If the suit sales for Rs. 300and gown sales for Rs. 500. How many garments should the tailor made to Maximize the revenue.Formulate the problem as an LP- Model and then solve by Graphical Methodarrow_forwardA furniture store expects to sell 120 coffee tables during the next year. It costs $1.50 to store one coffee table for one year. To reorder, there is a fixed cost of $10, plus $2.80 for each coffee table ordered. In what lot size and how many times per year should an order be placed to minimize inventory costs? coffee tables per order orders per yeararrow_forward
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- College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning