Solve This Linear Programming Mixture Problem: a Small Stereo Manufacturer

question 30

Essay

Solve this linear programming mixture problem: A small stereo manufacturer makes a receiver and a CD player. Each receiver takes eight hours to assemble, one hour to test and ship, and earns a profit of $30. Each CD player takes 15 hours to assemble, two hours to test and ship, and earns a profit of $50. There are 160 hours available in the assembly department and 26 hours available in the testing and shipping department. What should the production schedule be to maximize profit?

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Definitions:

Determination

In the context of statistical analysis, often refers to the degree of variance in observations explained by the model, usually in the form of the coefficient of determination (R-squared).

Estimated Regression Equation

An equation that estimates the relationship between dependent and independent variables in a regression model.

SST

Total Sum of Squares; a measure that quantifies the total variance in the dependent variable that is to be explained by the independent variable(s) in a model.

SSE

Stands for the Sum of Squared Errors, a measure used in statistics to describe the discrepancy between the data and an estimation model.