A training service offers a 1-month intensive training program for receptionists

Question

A training service offers a 1-month intensive training program for receptionists and secretaries for three types of office positions: medical field, small business, and executive secretarial. Each trainee receives training in three departments: computer software, telephone and LAN (local area networks), and ethics. The training program requires that each trainee in the medical field complete 0.8 units in computer software training, 0.6 units of telephone and LAN training, and 1.2 units of ethics training. The training program requires that each trainee for a small business complete 1.1 units in computer software training, 1.3 units of telephone and LAN training, and 0.8 units of ethics training. The training program requires that each trainee for the executive secretarial field complete 1.7 units in computer software training, 1.5 units of telephone and LAN training, and 1.3 units of ethics training. The training service can offer at most 32.1 units of computer software training, 29.7 units of telephone and LAN training, and 33 units of ethics training per month. A profit of $1,000 per month is earned from each medical field trainee. A profit of $1,000 per month is earned from each small business trainee. A profit of $1,400 per month is earned from each executive secretary trainee. How many individuals of each office position should be admitted each month in order to maximize profit? What is the maximum profit? Does anyone know how to solve this in excel solver

Explanation / Answer

Following is method to solve this question Revenue is simply the quantity sold multiplied by the price each unit sold at. If good1 sold for $5 and 20 of them were sold, total revenue would be $100. If it cost $ 30 total for the goods, the profit maximization would make a profit of $70. One has to analyze the different permutations of this though. A firm could sell good1 for $4 and sell 30 of them with a cost of $40 and make a profit maximization profit of $80. Out of the approaches, this method, while the simplest to calculate, it is inefficient to work out each possible set. Similar to the setting the demand function and the supply function equal to one another is setting marginal revenue equal to marginal cost to find the profit maximization levels. Profit maximization firms wish to have MR = MC. If MR > MC, then profit is increasing and marginal profit is positive. If MR

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