Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A store owner sells an Idaho wine and a Washington wine. The expected weekly profits from the sale of the two types of wines is

image text in transcribed

A store owner sells an Idaho wine and a Washington wine. The expected weekly profits from the sale of the two types of wines is P(x,y)=3x2+6xyy2+54x+34y800 dollars where x is the number of Idaho bottles of wine and y is the number of Washington bottles of wine sold weekly. 1 (a) Find Px(20,12). Write a sentence describing what this number represents in the context of the problem. (b) If the company can only stock 40 bottles of the two wines weekly (assume they sell what they stock), how many of each type should they stock to maximize the profit from the sale of the two wines and what is the maximum profit? The constraint equation is x+y=40. Round your answer to the nearest whole digit. i. Write out the Lagrange equation F(x,y,) using correct notation. ii. Find all the partial derivatives of the Lagrange equation and use them to solve for the values that lead to the maximum profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Operations Management in the Supply Chain Decisions and Cases

Authors: Roger Schroeder, M. Johnny Rungtusanatham, Susan Goldstein

6th edition

73525243, 978-0073525242

More Books

Students also viewed these General Management questions

Question

Week 3: Moment of force: scalar formulation...explain it

Answered: 1 week ago