A Company Has the Following Usage of Inputs, Constraints on Inputs

question 58

Essay

A company has the following usage of inputs, constraints on inputs and profit margins to make their three products.
$$\begin{array} { l l l l l } \text { Product } & \text { Wiring } & \text { Drilling } & \text { Assembly } & \text { Profit } \\\text { X202 } & 0.7 & 0.4 & 0.8 & 9 \\\text { Y303 } & 0.2 & 0.5 & 0.5 & 11 \\\text { Z404 } & 0.5 & 0.3 & 0.2 & 14\end{array}$$ There are maximum amounts of the following: 1500 hours for wiring, 1400 hours for drilling and 1100 hours for Assembly. Make sure that the units produced are integers. Solve for the above problem.
a) How many units of each product will be made?
b) What is the maximum profit?
c) Which input has the most amount of slack?

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Definitions:

Unequal Variances

A situation in statistical analyses where two or more groups have significantly different variances, impacting the assumptions of certain tests.

Normally Distributed

A description of dataset that follows a normal distribution, with most observations clustering around the mean and symmetrical tails.

Mean Value

The average of a set of numbers, calculated by dividing the sum of all values by the number of values.

Promotional Campaigns

Marketing strategies designed to increase awareness, interest, and sales of a product or service through various communication means.