A Company Needs to Purchase Several New Machines to Meet

question 9

Essay

A company needs to purchase several new machines to meet its future production needs. It can purchase three different types of machines A, B, and C. Each machine A costs $80,000 and requires 2,000 square feet of floor space. Each machine B costs $50,000 and requires 3,000 square feet of floor space. Each machine C costs $40,000 and requires 5,000 square feet of floor space. The machines can produce 200, 250 and 350 units per day respectively. The plant can only afford $500,000 for all the machines and has at most 20,000 square feet of room for the machines. The company wants to buy as many machines as possible to maximize daily production.
Enter the numbers in the appropriate cells of range B5:F10 in the Excel spreadsheet to solve this problem based on the following formulation.

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Definitions:

Cohort-Sequential

A research design utilized in developmental psychology that combines both cross-sectional and longitudinal methods to study changes over time within different cohorts.

Longitudinal

A type of study or research design that follows the same subjects over a period of time, observing changes or developments.

Scientific Method

A systematic process for research that involves observation, hypothesis formulation, experimentation, and conclusion to test scientific theories.

Conducting Research

The systematic process of gathering, analyzing, and interpreting data to answer specific questions or test hypotheses.