Answer:
Objective function (maximize)
Constraints
- Availabitily of salt: 
- Availability of herbs: 
- Availability of flour: 
Explanation:
This a linear programming problem. We have an objective function (in this case it is the profit) that we want to optimize, but complying with constraints (in this case, the availability of ingredients).
The objective function can be defined taking into account the profits of the two kind of chips:
The constraints can be expressed taking into account the amount of ingredients every unit of chip needs and stating that it has to be less or equal to the availability of this ingredient:
- Availabitily of salt:
- Availability of herbs
- Availability of flour
With these expressions the linear programming problem can be solved.
Answer:
d.) Jones is an incidental beneficiary and has no right to sue for Ace Construction's breach of the contract.
Explanation:
Jones was not a direct party to the contract, in fact, any profit which he was supposed to receive was incidental in nature and thus he cannot sue Ace Construction's breach of the contract.
An example of a natural monopoly industry operating in South Africa include "Eskom".
<h3>
What is natural monopoly?</h3>
A natural monopoly occurs when there is an instance in which it is economically viable and better for a single entity to be in full and sole control of the production of a product or service.
Moreover, a natural monopoly is the fact that natural monopolies have extreme economies of scale. It can only start to become profitable when one single firm is able to service the majority of the market.
Learn more about natural monopoly, refer to the link:
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Answer:
1. $66,000
2. $66,000
Explanation:
The computations are shown below:
1. Before written off:
= Account receivable balance - uncollectible amount
= $70,000 - $4,000
= $66,000
2. After written off:
= Account receivable balance - second year written off amount - uncollectible amount + second year written off amount
= $70,000 - $700 - $4,000 + $700
= $66,000
The manager of a supermarket would like to know which of several quality problems to address a tool that would be most helpful would be a Pareto chart.
A Pareto chart is a form of a graph with both bars and a line graph, where the bars reflect individual values in descending order and the line the cumulative total. The chart is called after the Pareto principle, which takes its name from renowned Italian economist Vilfredo Pareto.
The Pareto chart's goal is to draw attention to the most significant among a group of (usually several) components. Pareto charts can be used in quality control to identify the flaws that need to be fixed first in order to see the biggest overall improvement.
It frequently reflects the most frequent causes of faults, the most prevalent kind of defect, the most common causes of customer complaints, and so forth. For each bar in the Pareto chart, Wilkinson (2006) developed a method that generates statistically based acceptability limits (akin to confidence intervals).
Learn more about the Pareto chart here:
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