Use the Following Data for Next 2 Questions

question 47

Multiple Choice

Use the following data for next 2 questions:
Tieton Co. has two departments, Fabrication and Assembly. They produce 2 products. Product T needs 6 hours in fabrication and 6 hours in assembly. Product S needs 2 hours in fabrication and 4 hours in assembly. Fabrication has 24 hours available and Assembly 18. Total variable costs are $ 20 and $15 for T and S respectively. T sells for $22 and S for $16.
-The objective function to maximize Tieton's profits is

• A) MAX$22T+ $16S
• B) MAX$20T+ $15S
• C) MAX$1T + $2S
• D) MAX$2T + $1S

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Definitions:

Negatively Correlated

A statistical relationship between two variables in which one decreases as the other increases, or vice versa.

Crowd Size

The number of individuals present in a specific area or gathered for a particular event.

Inferential Statistics

A branch of statistics that allows one to make predictions or inferences about a population based on a sample of data.

Statistically Significant

Refers to a result in data analysis that is not likely to occur by chance alone, indicating a genuine effect or difference in a study.