Determine the decision variables

Assignment Help Econometrics
Reference no: EM13177527

The Charm City Cereal Company makes a cereal from several ingredients. Two of the ingredients, oats and rice, provide vitamins A and B. The company wants to know how many ounces of oats and rice it should include in each box of cereal to meet the minimum requirements of 45 milligrams of vitamin A and 20 milligrams of vitamin B while minimizing cost. An ounce of oats contributes 8.5 milligrams of vitamin A and 1.2 milligram of vitamin B, whereas an ounce of rice contributes 6.4 milligrams of A and 2.2 milligrams of B. An ounce of oats costs $0.08, and an ounce of rice costs $0.05.

Formulate a linear programming model for the above situation by determining
(a) The decision variables.
(b) The objective function.
(c) All the constraints.

Reference no: EM13177527

Questions Cloud

How much does each have : Eve said to Adam, "If you give me one dollar, then we will have the same amount of money." Adam then replied, "Eve, if you give me one dollar I will have double the amount of money you are left with." How much does each have?
How might a company reduce its cash conversion cycle : Why might a company want to reduce its cash conversion cycle - How might a company reduce its cash conversion cycle?
What would happen to america''s current account : If American consumers decrease their spending on imports but leave their overall consumption spending constant, "hence buying more locally made goods", with all other factors constant what would happen to America's current Account and why ?
Is the doctor''s research an abuse of technology : Should the doctor's activity be considered a violation of the law, a deviant act, or neither? If this activity is a violation of the law or should be, how may it be stopped, especially if the doctor goes overseas? Is the doctor's research an abuse of..
Determine the decision variables : A and 20 milligrams of vitamin B while minimizing cost. An ounce of oats contributes 8.5 milligrams of vitamin A and 1.2 milligram of vitamin B, whereas an ounce of rice contributes 6.4 milligrams of A and 2.2 milligrams of B. An ounce of oats cos..
How management should use an activity based budget : Describe the meaning and the components of a financial reporting system, write a description of how management should use an activity based budget instead of an operating budget and explain the similarities and differences of the two budgets
What is germany''s current account balance : Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
Compute the net increase or decrease in net income : Compute the net increase or decrease in net income for the month from the recognition of the adjustments
What is the purpose of government : What is the purpose of government? Why do we need government? Should the government have any concern for the moral character of the citizens? If not, then what should the government be concerned with?

Reviews

Write a Review

Econometrics Questions & Answers

  Question about elasticities of demand

Suppose income declines by 2.85%, how much do I have to cut value in order to maintain existing customers and it begins with being given a regression analysis that has the following:

  Find the mean forecast value gnp

Based on the information for the U.S. for the period 1970 to 1983, the following regression results were obtained, GNPt = -787.4723 + 8.0863M1t r2 = 0.9912

  Determine the probability of winning

Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets

  Calculate the saving function

Suppose the second equation is changed to I = 500. What is the new equilibrium level of income? How much does the $100 increase in investment change equilibrium GDP?

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculate net exports

a. Calculate net exports. b. Use the expenditure approach to calculate GDP. c. Use the income approach to calculate GDP. d. Calculate net domestic product (at factor cost). e. Calculate net domestic income (at market price..

  Determine the marginal revenue

Refer to Table For a firm operating in a competitive market, the marginal revenue is $0. $7. $14 $21.

  Increases in real gdp per capita

Economic growth, as examined through raise in real GDP per capita, is a target for most countries. This is often interpreted as an raise in economic welfare for citizens.

  Determine the outlook of fictitious economy

According to the following economic indicators, estimate the outlook of this fictitious economy. Although I know what these indicators mean,

  Computing regression lines and coefficient of squares

Computing regression lines, coefficient of squares, graphing dependent and independent variables using square footage vs home sales.

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Market equilibrium price and quantity for beer case

Assume the demand function and the supply functions for 24-can beer case in Houston are: Demand: QD = 1,000 ? 50P Demand: QS = 40P + 100 (a) What are the market equilibrium price and quantity for beer case?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd