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e-lub [12.9K]
2 years ago
7

You are considering adding a new food product to your store for resale. You are certain that, in a month, the minimum demand for

the product will be 6 units while the maximum demand will be 8 units. The estimated demand for this new product in any given month is 6 units (p=0.1), 7 units(p=0.4), and 8 units(p=0.5). If you choose to purchase 7 units for resale this month, what is the probability of selling all 7 units?
Mathematics
1 answer:
kolbaska11 [484]2 years ago
6 0

Answer:

Using EMV analysis, the number of units of the new product should be purchased for resale = Purchase 7.

The maximum EMV of profit you can make is 270.

Explanation:

We can use the following method to solve the given problem

Solution:

Using EMV analysis,

EMV (Purchase 6 for resale)= 6(40)(0.1) + 6(40)(0.4) + 6(40)(0.5)=240

EMV (Purchase 7 for resale) = [6(40)-60](0.1) +7(40)(0.4) + 7 (40)(0.5) = 270

EMV (Purchase 8 for resale) = [6(40)-2(60)] (0.1) + [7 (40) - 60] (0.4) + 8(40)(0.5)= 260

Largest EMV= 270; Choose to purchase 7 units for resale.

Step-by-step explanation:

Hopefully this helps :)

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1. A company produces two types of nutritional supplements; Energize and Excel. Energize contains 26 mg of vitamin A, 42 mg of v
geniusboy [140]

Answer:

1)A) Minimize C = 40x + 100y.

2) d) 7x + 8y ≤ 190, 5x + 4y ≤ 22, x ≥ 0, y ≥ 0.

3) B) Min C = 295x + 416y; s.t 23x + 15y ≥ 154, 17x + 25y ≥ 140, x ≥ 0, y ≥ 0.

Step-by-step explanation:

1) Energize pills cost 40 cents each, while Excel pills cost 100 cents each. If x represent the energize pills and y represent the excel pills, the objective function would be:

minimize cost = cost of energize pill + cost of excel pill

Minimize cost = 40x + 100y

2) Let x = the number of mountain bikes they produce, and let y = the number of racing bikes they produce.

7 hours of assemble time to produce a mountain bike and 8 hours of assemble time to produce a racing bike. Since the company has at most 190 hours for assemble time, it can be represented as:

7x + 8y≤ 190

5 hours of mechanical tuning to produce a mountain bike and 4 hours of mechanical tuning to produce a racing bike. Since the company has at most 22 hours for mechanical tuning, it can be represented as:

5x + 4y ≤ 22

Also assemble time and mechanical time must be greater than 0, hence:

x ≥ 0, y ≥ 0

3) The fieldwork constraint can be represented as:

23x + 15y ≥ 154

The time to be spent at university research center can be represented as:

17x + 25y ≥ 140

Both fieldwork time and time spent at university research center mut be greater than 0, hence:

x ≥ 0, y≥ 0

The cost equation is:

Minimize cost = 295x + 416y

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3 years ago
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