Formulate the Following as a Linear Program

question 106

Essay

Formulate the following as a linear program.
Frank's art class must provide instructions on painting (P), carving (C), and clay modeling (M). Frank has a limited material budget of $3,000. The costs per student usage for the supplies are $25, $18, and $14, respectively. Frank must provide instruction and practice opportunities for each method. What is the optimum combination of art supplies Frank should procure for the class?

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Definitions:

Index Number

A statistical measure that shows changes in a variable or group of variables over time.

Price Drop

A decrease in the market price of a good or asset, usually driven by changes in demand, supply, or broader economic factors.

Consumer Price Index

An index measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Basket

A term used in finance to refer to a collection of investments, commodities, or currencies held together.