Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. optimal profit the costs to a store for two model

Optimal Profit The costs to a store for two models of Global Positioning System (GPS) receivers are...

60.1K

Verified Solution

Question

Statistics

  1. Optimal Profit

The costs to a store for two models ofGlobal Positioning System (GPS) receivers are $80 and $100. The $80model yields a profit of $25 and the $100 model yields a profit of$30.

Market tests and available resourcesdetermined the constraints below.

(a) The merchant estimates that thetotal monthly demand will not exceed 200 units.

(b) The merchant does not want toinvest more than $18,000 in GPS receiver inventory.

What is the optimal inventory levelfor each model? What is the optimal profit?

  1. Optimal Profit

A fruit grower has 150 acres of landfor raising crops A and B. The profit is $185 per acre for crop Aand $245 per acre for crop B.

Research and available resourcesdetermined the constraints below.

(a) It takes 1 day to trim an acre ofcrop A and 2 days to trim an acre of crop B, and there are 240 daysper year available for trimming.

(b) It takes 0.3 day to pick an acreof crop A and 0.1 day to pick an acre of crop B, and there are 30days per year available for picking.

What is the optimal acreage for eachfruit?  What is the optimal profit?

Answer & Explanation Solved by verified expert
4.3 Ratings (894 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

8 Triangle MNT has the following measurements ZM 45 21 75 a Make a rough...

Statistics
1.2K views

Twenty economist were chosen randomly, and asked to predict if the national economy would improve during...

Finance
1.2K views

   How does behavioral finance explain the real world inconsistencies of the efficient markets hypothesis (EMH)?

General Management
1.2K views

(High-tech production problem) Quitmeyer Electronics Incorporated manufactures the following three microcomputer peripheral devices: internal modems, external modems, and...

Statistics
1.2K views

Height 43in 62 in 83in 62 in Shoe 6 9 9 5 10 2 1...

Calculus
1.2K views

Find the differential dy of the given function 2 y x 3 x dy 2x...

Algebra
1.2K views

Use the Comparison Theorem to determine which of the following integrals converge i S S...

Algebra
1.2K views

Using colored pens or pencils show how 2 chromosomes are passed from the mother cell...

Accounting
1.2K views

The company maintains a minimum cash balance of $69,000. All borrowing is done at the...

Accounting
1.2K views

17. The following is the adjusted Photography trial balance columns from the worksheet for Picture...

Accounting
1.2K views

Werner Chemical, Incorporated, leased a protein analyzer on September 30,2024. The five-year lease agreement calls...

Accounting
1.2K views

Wildhorse Curtin borrowed $32,000 on July 1, 2025. This amount plus accrued interest at 6%...