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:

Profitability

The degree to which a business or activity yields profit or financial gain.

Costs Of Production

The total expenses incurred in the process of creating and selling goods or services.

Industry Analysts

Professionals who evaluate the financial conditions, market trends, and other factors of specific sectors or industries, providing insights and forecasts.

Market Economy

An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses.