LP Homework

# LP Homework - requires three minutes per unit for molding...

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Linear Programming: 1. In your own words, what is Linear Programming? How would you use it? 2. A linear programming problem contains a restriction that reads "the quantity of X must be at least twice as large as the quantity of Y." Formulate this as a constraint ready for use in problem solving software. 3. A firm makes two products, Y and Z. Each unit of Y costs \$10 and sells for \$40. Each unit of Z costs \$5 and sells for \$25. If the firm's goal were to maximize sales revenue, the appropriate objective function would be 4. A manager must decide on the mix of products to produce for the coming week. Product A
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Unformatted text preview: requires three minutes per unit for molding, two minutes per unit for painting, and one minute for packing. Product B requires two minutes per unit for molding, four minutes for painting, and three minutes per unit for packing. There will be 600 minutes available for molding, 600 minutes for painting, and 420 minutes for packing. Both products have contributions of \$1.50 per unit. What is the best product mix to maximize profits?...
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