Formulate the Following as a Linear Program

question 89

Essay

Formulate the following as a linear program.
Joe's Sports Shop is sponsoring a weekly boomerang-throwing contest as part of its spring promotions. Anyone may enter, but the boomerangs used must be purchased at the shop. Demand is unlimited. Two models can be made: the regular model (with a profit of $2 each) and the super model (which yields a $5 profit). However, production facilities are limited. A regular boomerang requires 1 hour of carving and 2 hours of finishing, while a super boomerang takes 3 hours to carve and 2 hours to finish. The skilled crafters employed by the shop have indicated they will spend no more than 75 hours carving and 100 hours finishing boomerangs per week. The owner wishes to allocate production in order to maximize profits.

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Definitions:

Readily Observable

Pertains to information or data that is easily seen, recognized, or understood through minimal effort, often used in finance and economics.

Avoidable Interest

Interest cost that a company can avoid if it does not undertake a project or an investment; typically considered in capital budgeting to assess potential savings.

Weighted Average

Weighted average is a calculation method where different values are given different levels of importance or weight, often used in inventory valuation or to average grades.

Economic Sacrifices Approach

A method in accounting that focuses on recognizing and measuring the sacrifices or costs that a company incurs in the process of generating revenue.