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Burka [1]
3 years ago
13

The artisans at Jewelry Junction in Phoenix are preparing to make gold jewelry during a 2-month period for the Christmas season.

They can make bracelets, necklaces, and pins. Each bracelet requires 6.3 ounces of gold and 17 hours of labor, each necklace requires 3.9 ounces of gold and 10 hours of labor, and each pin requires 3.1 ounces of gold and 7 hours of labor. Jewelry Junction has available 125 ounces of gold and 320 hours of labor. A bracelet sells for $1,650, a necklace for $850, and a pin for $790. The store wants to know how many of each item to produce to maximize revenue.a. Formulate an integer programming model for this problem.b. Solve this model by using the computer. Compare this solution with the solution with the integer restrictions relaxed and indicate whether the rounded-down solution would have been optimal.
Business
1 answer:
SVEN [57.7K]3 years ago
8 0

Answer:

The max revenue is "$32,300". The further explanation is described below.

Explanation:

(a)

The composition as well as response of models within 6 rows seems to be as described in the following:  

Maximum 1650B + 850N + 790P (B bracelets, N necklaces and P pins produce overall revenue)  

Yes of course,

The total gold ounces will be:

⇒  6.3B+3.9N+3.1P < = 125

The total labor hours will be:

⇒  17B+10N+7P < = 320

Integers B, N, P will become  

The response for LINDO is:

B=10.0.

N=0  

P=20  

Final Value of Maximization will be:

= 32,300

(b)

  • 10 bracelets, hardly any necklaces as well as 20 pins should always be made by the shop.  
  • These goods utilizing 125 ounces of gold simultaneously,  
  • It would use 310 hours of labor although 10 hours would then stay unused.  

The maximum salary will become:

= $32,300.

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. Drayser Corporation has budgeted sales of 23,000 units, targeted ending finished goods inventory of 9,000 units, and beginning
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Answer:

Production= 26,000

Explanation:

Giving the following information:

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<u>To calculate the production required, we need to use the following formula:</u>

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7 0
2 years ago
Explain how a manager at a Subway or any fast food restaurant restaurant can use feedforward control to get the best customer sa
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Customer satisfaction is increased as a result of quality management, which also enables businesses to meet customer expectations. One of the key areas where businesses need to be knowledgeable enough is in the service quality.

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Some key features regarding the subway are-

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8 0
2 years ago
Economic efficiency is
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Answer: Option (A) is correct.

Explanation:

In a competitive market, when the demand curve i.e. the marginal benefit curve is exactly equal to the supply curve i.e. marginal cost curve and at this point the sum of consumer and producer surplus is maximized then an equilibrium is set in an economy and economic efficiency is obtained.

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6 0
2 years ago
Miracle Clean's variable costs are $3.00 per bottle and Fixed Expenses are $350,000 per year. The company currently sells 150,00
DerKrebs [107]

Answer:

131,250= number of units

Explanation:

Giving the following information:

<u>We need to calculate the number of units to be sold to maintain a profit of $175,000.</u>

Unitary variable cost= $3

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Net income= total contribution margin - fixed cost

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525,000 = number of units*4

525,000 / 4= number of units

131,250= number of units

7 0
3 years ago
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