Who among the following was mentioned as asking what it means to live a good life?
1 answer:
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Answer:
The Linear programming model is given as below
Profit Function:
Constraints:
Explanation:
As the question is not complete, the complete question is found online and is attached herewith.
Let the number of product 1 to be produced is X, that of product 2 is Y and product 3 is Z
so the maximizing function is the profit function which is given as
Now as the number of hours in a week are 40 and there are a total of 10 type 1 machines so the total number of machine 1 hours are 40*10=400 hours
As from the given table product 1 uses 2 machine hours of machine 1, product 2 uses 2 machine hours of machine 1 and product 3 uses 1 hour of machine 1 so
Now as the number of hours in a week are 40 and there are a total of 6 type 2 machines so the total number of machine 2 hours are 40*6=240 hours
As from the given table product 1 uses 3 machine hours of machine 2, product 2 uses 4 machine hours of machine 2 and product 3 uses 6 hour of machine 2 so
Now as the number of hours in a week are 40 and there are a total of 8 type 3 machines so the total number of machine 3 hours are 40*8=320 hours
As from the given table product 1 uses 4 machine hours of machine 3, product 2 uses 6 machine hours of machine 3 and product 3 uses 5 hour of machine 3 so
Now as the machine 1 is used as 2X+2Y+Z in a week and the week is of 40 hours so the number of machines to be used are given as
Now as the machine 2 is used as 3X+4Y+6Z in a week and the week is of 40 hours so the number of machines to be used are given as
Now as the machine 3 is used as 4X+6Y+5Z in a week and the week is of 40 hours so the number of machines to be used are given as
Now the workers are available for 35 hours so the worker available at the machine 1 is given as
That of machine 2 is given as
That of machine 3 is given as
As the total number of workers is 19 so the constraint is given as
So the Linear programming model is given as below
Profit Function:
Constraints:
Answer:<u><em> Price per ticket should be charged in order to maximize revenue is $15.</em></u>
<u><em>70000 people will attend at this price.</em></u>
<u><em></em></u>
Explanation:
Let 'x' represent the decrease .
Using the given information,
Price per ticket = 24 - 3x
Average no. of people that watch the game = 40000 + 10000x
Additional money spent by every person = 6(40000 + 10000x)
Revenue [R(x)] = Price per ticket Average no. of people that watch the game + Additional money spent
Revenue [R(x)] = (24 - 3x)(40000 + 10000x) + 6(40000 + 10000x)
On solving the above equation we get ,
Revenue [R(x)] = -30000 + 180000x + 1200000
In order to find the critical point we'll differentiate the following with respect to x;
R'(x) = -60000x + 180000
∵ R'(x) = 0
x = 3
<u><em>Thus, the price per ticket that should be charged in order to maximize revenue is (24 - 33 = 24 - 9 = $15)</em></u>
<u><em>People that will attend at this price = (40000 + 100003) = 70000</em></u>