Markets three blends of oriental tea

Assignment Help Basic Statistics
Reference no: EM131939376

The International Chef, Inc. markets three blends of oriental tea: premium, Duke Grey, and breakfast. The firm uses tea leaves from India, China, and new domestic California sources.

1040_new domestic California sources.png

Net profit per pound for each blend is $0.50 for premium, $0.30 for Duke Grey, and $0.20 for breakfast. The firm's regular weekly supplies are 20,000 pounds of Indian tea leaves, 22,000 pounds of Chinese tea leaves, and 16,000 pounds of California tea leaves. Develop and solve a linear optimization model to determine the optimal mix to maximize profit, and write a short memo to the president, Kathy Chung, explaining the sensitivity information in language that she can understand.

Reference no: EM131939376

Questions Cloud

Budget and make the largest amount of money : How can the organization best use its budget and make the largest amount of money?
Budget and make the largest amount of money : How can the organization best use its budget and make the largest amount of money?
Art has come out with new and improved product : ART has come out with a new and improved product. What price do you expect ART shares to sell for in 4 years?
Develop a strategic plan to address the problems : Provide an assessment of skills needed to complete action steps, as well as your plan on developing such skills.
Markets three blends of oriental tea : The International Chef, Inc. markets three blends of oriental tea: premium, Duke Grey, and breakfast. The firm uses tea leaves from India, China
Develop and solve a linear optimization model : Develop and solve a linear optimization model to find the best coal blend for Young Energy. Explain how the company might reduce its costs
What is the purpose of the trade practices act 1974 : BSBSLS502 - What is meant by Equal Opportunity and What is the purpose of the Trade Practices Act 1974 - Describe the importance of ethics in a sales role
Financing costs of additional receivables : You will have to compare additional profits with increase in bad debt expense and financing costs of additional receivables.
What was the annual return on investment : A stock was purchased at $23, sold exactly two years later at $25.50, and paid a $0.70 dividend per year. What was the annual return on investment?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Determining the sports and leisure

A National Football League coach is permitted to initiate two challenges to referee calls per game (outside of the final 2 minutes in each half).

  Distribution of the number of cases of tetanus

In a certain country, the distribution of the number of cases of tetanus reported during a single month is Poisson with parameter lambda=6.5. If we are going to draw a sample of size 60 from this population and calculate the sample mean, what is t..

  Determining the successes and failures

In 2-3 paragraphs, respond to the following: What did black political leaders accomplish and fail to accomplish during Reconstruction? What contributed to their successes and failures?

  Find the single premium

If death occurs in the second year, insured will receive at time 2 only a return of the single premium paid without interest. Suppose q70 = 0.36, q71 = 0.40, and the interest rate is 100%. Find (a) the single premium, (b) 1V.

  Use social cues in an object choice task

Domestic Goats Follow Gaze Direction and Use Social Cues in An Object Choice Task," published online in Animal Behavior in January 2005

  Resident at a level of significance

Is there a relationship between the opinion and the location of the resident at a level of significance of 0.05?

  Compare mean number of hours allocated to account receivable

At the beginning of the study, the researchers theorized that the A/R group would allocate the least audit effort to receivables and that the A/P group would allocate the most. Formally stated, the researchers believed that μAR C AP. Do the result..

  Probability of the malfunctioning of the machine

A popular soft drink is sold in 2-liter (2,000-milliliter) bottles. Because of variation in the filling process, bottles have a mean of 2,000 milliliters and a standard deviation of 20, normally distributed.

  Determine the sample size

Suppose we want to conduct a poll to estimate the proportion of voters who approve of the current mayor, and we plan to use a 95% confidence interval for our estimate.

  What is the risk of the disease for smokers

If the baseline risk of a certain disease for nonsmokers is 1% and the relative risk of the disease is 5 for smokers compared to nonsmokers.

  The method of complementary random numbers

(a) Obtaining uniform random numbers as instructed at the beginning of the Problems section, use the inverse transformation method to generate three random observations from this distribution, and then calculate the sample average to estimate the ..

  Explain discrete example of continuous random variable

Categorize the following as the example of nominal, ordinal, interval, or ratio level of measurement, and define why it represents this level: marital status of company's employees.

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