Tots Toys Makes a Plastic Tricycle That Is Composed of Three

question 4

Essay

Tots Toys makes a plastic tricycle that is composed of three major components: a handlebar-front wheel-pedal assembly,a seat and frame unit,and rear wheels.The company has orders for 12,000 of these tricycles.Current schedules yield the following information. $$\begin{array} { l | c c c | c | c } \text { Component } & \begin{array} { c } \text { Requirements } \\\text { Plastic }\end{array} & \text { Time } & \text { Space } & \begin{array} { c } \text { Cost to } \\\text { Manufacture }\end{array} & \begin{array} { c } \text { Cost to } \\\text { Purchase }\end{array} \\\hline \text { Front } & 3 & 10 & 2 & 8 & 12 \\\text { Seat/Frame } & 4 & 6 & 2 & 6 & 9 \\\text { Rear wheel (each) } & 5 & 2 & .1 & 1 & 3 \\\quad \text { Available } & 50000 & 160000 & 30000 & &\end{array}$$ The company obviously does not have the resources available to manufacture everything needed for the completion of 12000 tricycles so has gathered purchase information for each component.Develop a linear programming model to tell the company how many of each component should be manufactured and how many should be purchased in order to provide 12000 fully completed tricycles at the minimum cost.

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Definitions:

Role Of Government

The responsibilities and duties of government entities, including creating laws, providing social services, and ensuring economic stability.

Productivity

The measure of how efficiently inputs are converted into outputs; an increase in productivity means more output is produced with the same amount of inputs.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured by gross domestic product (GDP).

Randomized Control Trials

Experimental studies where subjects are randomly assigned to a treatment group or a control group to measure the effect of interventions.