Find the optimal solution using graphical solution technique

Assignment Help Financial Management

Reference no: EM13848384

Precision Machinists makes two grades of gears for industrial machinery: standard and heavy duty. The process requires two steps. Step-1 takes 8 minutes for the standard gear and 10 minutes for the heavy duty. Step-2 takes 3 minutes for the standard gear and 10 minutes for the heavy duty. The company’s labor contract requires that it use at most 200 labor-hours per week on the Step-1 equipment and at most 140 labor-hours per week on the Step-2 equipment. The profit contributions are $15 for each standard gear and $22 for each heavy duty. How many of each gear should be made each week to maximize profits? Find the optimal solution using the graphical solution technique.

Reference no: EM13848384

Questions Cloud

Effect of sample size on the width of confidence interval : 1. When you construct a 95% confidence interval, what are you 95% confident about? 2. What is the effect of sample size on the width of a confidence interval?

Briefly name and describe the laws and regulations specific : Amy is seven years old and loves to play with dolls. In fact, she has more than 20 Barbie dolls and lots of clothes and accessories, including three cars, a house with furniture, and an airplane. Mattel, the manufacturer of Barbie, also sells many ot..

Rank the tools in order of importance to the job requirement : If each of the positions below, if you were required to choose two major financial tools to focus on and become expert at, which would you choose? Explain your answers. Support your answers by providing at least one example of why your chosen tools a..

Open savings account : A friend asks whether he should open a savings account that pays 5 percent interest compounded semiannually or one that pays 5 percent interest compounded daily. What would you tell him or her, and why?

Find the optimal solution using graphical solution technique : Precision Machinists makes two grades of gears for industrial machinery: standard and heavy duty. The process requires two steps. Step-1 takes 8 minutes for the standard gear and 10 minutes for the heavy duty. How many of each gear should be made eac..

Assume you are high-potential rising-star manager : Part A.Assume you are high-potential, rising-star manager within Rio Tinto and are offered a position at a company facility in China. Because China is the company's biggest customer, an assignment there is likely to advance your career.1. Would you t..

Measure risk relies on probability distribution : This will be a real challenge, but it should be an interesting challenge. Much of the way we measure risk relies on probability distribution (the bell curve as shown on page 425). For many things in life, and business, this is perfectly valid, but fo..

Find the ratio of the height attained by the two balls : Pankaj and Sudhir are playing with two different balls of masses m and 2m respectively. If Pankaj throws his ball vertically up and Sudhir at an angle θ, both of them stay in our view for the same period. Find the ratio of The height attained by th..

What should the brand equity building focus on : Based on all of the information above, write an online branding proposal for Premier Portraits. Who specifically should Premier Portraits target with the new branding message? What product should Premier Portraits really offer to this market? What va..

User Account

All Pages