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Airida [17]
3 years ago
14

A hotel and conference center at a holiday destination can cater for a maximum of 540 tourists and conference attendees per mont

h but does not open for business in any month in which the number of bookings is less than 300. The number of tourist bookings is always greater than or equal to the number of conference attendees but never more than twice as many. The profit made per tourist per month is $16 while the profit made per conference attendee per month is $19. What mix of conference attendees and tourists should the center aim for to maximize the profit and what is the maximum profit? Formulate an LP model for this problem and report the model in the box below. Your model must include clearly defined decision variables, an objective function, and the required constraints.
Business
1 answer:
emmainna [20.7K]3 years ago
6 0

Answer:

Below is the solution. Feel free to ask any question in the comments.

Explanation:

Decision variables:

x = number of conference attendees, y = number of tourists, z = profit in $

Objective function:

Maximize z = 19x + 16y

Constraints:

x + y ≤ 540

x + y ≥ 300

x ≤ y, that is x - y ≤ 0

2x ≤ y, that is 2x - y ≤ 0

x ≥ 0, y ≥ 0

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Furniture Shine is introducing an improved version of its existing wax targeted to owners of antiques. The firm has decided to l
ra1l [238]

Answer:

modified product - multiple markets

Explanation:

This type of strategy consists of offering different products, which are modified versions of some exiting product, to new markets.

In this case, the improved version of the wood wax is a modified version of the old wood wax, and is going to be targeted to a new and specific market (antique owners), while the original version is still going to be targeted at the current market.

4 0
4 years ago
Match the statement with the term most directly associated with it.1.choose a termRights, privileges, and competitive advantages
Gnom [1K]

Answer:

1. Intangible assets.

2. Amortization.

3. Franchise.

4. Research and Development Costs.

5. Goodwill.

Explanation:

1. Intangible assets: Rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance.

2. Amortization: The allocation of the cost of an intangible asset to expense in a rational and systematic manner.

3. Franchise: A right to sell certain products or services, or use certain trademarks or trade names within a designated geographic area.

4. Research and Development Costs: Costs incurred by a company that often lead to patents or new products. These costs must be expensed as incurred.

5. Goodwill: The excess of the cost of a company over the fair value of the net assets required.

5 0
4 years ago
The principle of diminishing returns to capital states that if the amount of labor and other inputs employed is held constant, t
Volgvan

Answer:

b. Less is produced

Explanation:

The Principle of diminishing returns to capital states that as more unit of capital is  added, a point will be reached where a decline in the marginal product will be encountered.

This simply means that for every additional unit of capital invested in the business, a less than proportionate increase is seen, this simply means that there will be a decrease in marginal productivity.

5 0
3 years ago
What the difference between yelling and raising your voice?
Eva8 [605]

The Difference from Yelling and raising your voice is... Yelling your like using anger it don't always have to be using anger it can be raising your voice but when you go outside and feel so excited! You Say WHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO That's yelling and now here is an example of anger yelling Example: Go to your room! NO!! Even though you cannot hear but the Caps your using anger raising your voice is making it more clear. now it can be used as yelling aswell but not this time raising is let's say your shy your mother ask what do you want to eat you say Zaxbys she say's huh? Raise your voice i can hear you. Raise & Yell 2 Different things but can mean the same thing  Yell And Raise 2 Different Things But Can Mean The Same Thing! Yelling can be used as anger or loudness Raising can be used with anger aswell or raising your voice so people can hear you.

I really hope this helps you! :D

5 0
3 years ago
Read 2 more answers
Levine, Inc., has a total debt ratio of 0.48. What is its debt-equity ratio?
Aleks04 [339]

Answer:Debt equity ratio= 0.92

Explanation:

Debt equity ratio is a company's  liquidity ratio that compares its total debt to total equity showing how  the proportion  of the  finance of the company proceeds from its  creditors and investors.

its formulae is given by

Debt equity ratio= Total liabilities /Total shareholder's equity

 = Debt/ total asset - debt

let the total asset = 100% = 1

Therefore,

Debt equity ratio=Debt/ total asset - debt

= 0.48/ 1 -0.48 = 0.48 /0.52 = 0.9231

3 0
4 years ago
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