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Lakeside Boatworks n planning to manufacture three types of molded fiberglass recreational boats-a fishing (bass) boat, a ski boat, and a small speedboat. The estimated selling price and variable cost for each type of boat are summarized in the following table:
The company has incurred fixed costs $2,800,000 to set up its manufacturing operation and begin production. Lakeside has also entered into agreements with several boat deriders in the region to provide a minimum of 70 bass boats, 50 ski boats, and 50 speedboats.
Alternatively, the company is unsure of what actual demand will be, so it has decided to limit production to no more than 120 of any one boat. The company wants to determine the number of boats that it must sell to break even while min mono its total variable cost.
a. Formulate a linear programming model for this problem.
b. Solve the model by using the computer.
Obtain (generate) a random sample of 180 numbers between 1 and 60. You may use a calculator, excel, or a table of random numbers to achieve this. Use your sample to answer the following questions.
A company manufactures CD players. The quality control department checks 600 CD players and discovers that 12 of them are defective. What is the probability that a CD player is not defective?
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10% of all doctors recommend a new headache medicine. if we randomly select 20 doctors (and assume independence), find the probability at least 2 recommend the medicine.
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