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

question 36

Essay

A company has the following usage of inputs, constraints on inputs and profit margins to make their three products.
$$\begin{array} { l l l l l } \text { Product } & \text { Wiring } & \text { Drilling } & \text { Assembly } & \text { Profit } \\\text { X202 } & 0.6 & 0.41 & 0.8 & 14 \\\text { Y303 } & 0.1 & 0.57 & 0.47 & 9.75 \\\text { Z404 } & 0.35 & 0.3 & 0.26 & 12.25\end{array}$$ There are maximum amounts of the following: 1625 hours for wiring, 1750 hours for drilling and 1175 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:

Population Standard Deviation

A measure of the dispersion or spread of all values in a population dataset.

Chi-Square Statistic

A statistical measure used in tests of independence to analyze the frequency distribution of observed data versus an expected data set.

Null Hypothesis

A hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.

Sample Data

A subset of data collected from a larger population, used to analyze and make inferences about that population.