Question
A plastic parts supplier produces two types of plastic parts used for electronics. Type 1 requires 20minutes of labor and 35 minutes of machine time.
A plastic parts supplier produces two types of plastic parts used for electronics. Type 1 requires 20minutes of labor and 35 minutes of machine time. Type 2 requires 50 minutes of machine hours and 78 minutes of labor. There are 500 hours available per week of labor and 750 machine hours available. Type 1 has a profit margin of $25 a unit and Type 2 has a profit margin of $45 a unit. The plastic parts supplier must choose the quantity of Type 1 and Type 2 to produce which maximizes profit.
(a) Formulate this as a linear programming problem.
(b) Find the solution that gives the maximum profit using Excel Solver.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started