Examlex

Solved

A Haberdashery Produces Scarves, Ascots, and Capes

question 40

Essay

A haberdashery produces scarves, ascots, and capes.The profit function for the haberdashery is expressed by the following equation: profit = 4S + 2A + 5C + 0.8S2 + 1.4A2 + 2C2 + 2SAC.It takes 10 minutes to produce a scarf, 15 minutes to produce an ascot and 30 minutes to produce a cape.There is a total of 50 hours available for labor each week.There must be at least 50 scarves, 100 ascots, and 25 capes produced each week.Formulate a nonlinear program representing the profit maximization problem for the haberdashery and solve using Solver's GRG Nonlinear routine.


Definitions:

Expected Count

The predicted number of occurrences in a category for a statistical experiment based on probability theories.

Null Hypothesis

An alternative definition: The presumption used in statistical testing that indicates no significant difference or effect in a given experiment or observation.

Proposed Change

A suggestion put forward for consideration by others to make alterations or modifications to an existing situation or document.

Alternative Hypothesis

In statistical hypothesis testing, a statement that contradicts the null hypothesis and indicates a new theory or finding is expected.

Related Questions