1. (10 points) An electronics manufacturer produces three electrical products fo

Question

1. (10 points) An electronics manufacturer produces three electrical products for its consumer brands; clocks, radios and toasters. It takes 2 hours to produce a clock, 3 hours to produce a radio and 2 hours to produce a toaster. It costs $7 to produce a clock, $10 to produce a radio and $5 to produce a toaster. Each day, the manufacturer has a production budget of $2,000, and up to 600 hours of available labor hours. The maximum daily demand for these items is 200 clocks, 300 radios and 150 toasters. Clocks sell for $15, radios for $20 and toasters for $12. The company needs to determine the daily production plan that will maximize its profit. Formulate this as a linear programming problem DO NOT ATTEMPT TO SOLVE! a. Define the decision variables (be specific in your definition): b. Define and mathematically formulate the Objective Function: c. Mathematically formulate all relevant constraints.

Explanation / Answer

PRODUCTS CLOCK RADIO TOASTERS Time taken 2 hrs 3 hrs 2 hrs Manufacture Cost $7 $10 $5 Demand 200 300 150 BUDGET- $2000 working Hours-600 Selling Amount $15 $20 $12 Daily Production Plan Production should be 105 units 110 units 30 units Working hours 210 hrs 330 hrs 60 hrs Costing $735 $1,100 $150 Selling Amount $1,575 $2,200 $360 Profit $840 $1,100 $210

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