Exhibit 3.1 The Following Questions Are Based on This Problem and Accompanying

question 20

Multiple Choice

Exhibit 3.1
The following questions are based on this problem and accompanying Excel windows.
Jones Furniture Company produces beds and desks for college students. The production process requires carpentry and varnishing. Each bed requires 6 hours of carpentry and 4 hour of varnishing. Each desk requires 4 hours of carpentry and 8 hours of varnishing. There are 36 hours of carpentry time and 40 hours of varnishing time available. Beds generate $30 of profit and desks generate $40 of profit. Demand for desks is limited, so at most 8 will be produced. The LP model for the problem is
-Refer to Exhibit 3.1. What formula should be entered in cell E5 in the accompanying Excel spreadsheet to compute total profit?

• A) =B4*B5+C4*C5
• B) =SUMPRODUCT(B8:C8,$B$4:$C$4)
• C) =SUM(B5:C5)
• D) =SUM(E8:E10)

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Definitions:

Age Of Majority

The age at which an individual is considered legally capable of conducting himself or herself responsibly and is entitled to vote. In contract law, the age at which one is no longer an infant and can no longer disaffirm a contract.

Legally Binding

an agreement or contract that is enforceable by law, obligating parties to fulfill their contractual duties.

Unconscionable

Actions or terms that are excessively unfair or oppressive and not guided by conscience.

Competing In Business

The act of engaging in efforts to win over customers, achieve superior market position, or attain higher sales in a particular marketplace against other businesses.