Cengage is publishing the best and latest textbooks each year. However, it is too costly to produce every book to be published each year. The following are the books that are being considered for publishing. New books are currently in their first edition. The revised books are being upgraded to a new edition. Book Business Calculus Calculus for Science New or Revised Edition New Revised Expected Sales ($1000s) 30 20 Expected Costs ($1000s) 10 15 General Statistics Management Science New New 10 40 4 35 Business Statistics Revised 25 21 Finance Financial Accounting Revised New 30 25 9 8 Managerial Accounting New 35 7 Statistics for Management Statistics for Economics New Revised 40 30 32 12 NI It takes a lot of time to review each textbook. Additionally, each textbook requires and understanding of the material provided. Different employees have different background knowledge. There are four employees that can review each of the available textbooks. However, each is available for a limited number of days over the next 6 months due to other project commitments. The four employees are Michael, Emily, Kristina, Kayla and their availability is 100,90,80, and 70 days available, respectively. Based on their knowledge in each subject, the days required by each employee to review each textbook are given below. An X represents that the employee does not have enough knowledge to review the textbook. If a book needs review, each of the three employees will need to spend the following amount of time reviewing it. Book Subject Business Calculus Michael 18 Emily 26 Kristina X Kayla 20 Calculus for Science General Statistics Management Science Business Statistics Finance 16 20 20 14 X 24 26 20 X 30 24 16 14 18 32 X 22 23 Book Subject Financial Accounting Managerial Accounting Statistics for Management Statistics for Economics Michael 20 22 40 Emily X X 34 Kristina 26 30 30 Kayla 30 15 X X 35 28 22 Cengage has the following rules that they want to follow when choosing their textbooks. 1. Cengage wants to publish at least two statistics books 2. Cengage doesn't want to publish more than one Calculus textbook 3. Cengage wants to publish exactly one book with management (or managerial) in the title. 4. Cengage wants to do an equal number of new and revised textbooks. 5. Because of the continuation in courses, if Managerial Accounting is published, they want to publish the Financial Accounting book as well (though Financial is okay on it's own) Managerial Report Prepare a report for Cengage that describes your recommendations for the next year. With the previous conditions met, Cengage's management goal is to maximize the sales revenue. 1. What is the optimal solution? Which textbooks should be published? What is the maximized sales revenue? 3. Based on the answer found in part 1, what would the optimal solution be if Cengage looks at profit instead of revenue? Cengage is publishing the best and latest textbooks each year. However, it is too costly to produce every book to be published each year. The following are the books that are being considered for publishing. New books are currently in their first edition. The revised books are being upgraded to a new edition. Book Business Calculus Calculus for Science New or Revised Edition New Revised Expected Sales ($1000s) 30 20 Expected Costs ($1000s) 10 15 General Statistics Management Science New New 10 40 4 35 Business Statistics Revised 25 21 Finance Financial Accounting Revised New 30 25 9 8 Managerial Accounting New 35 7 Statistics for Management Statistics for Economics New Revised 40 30 32 12 NI It takes a lot of time to review each textbook. Additionally, each textbook requires and understanding of the material provided. Different employees have different background knowledge. There are four employees that can review each of the available textbooks. However, each is available for a limited number of days over the next 6 months due to other project commitments. The four employees are Michael, Emily, Kristina, Kayla and their availability is 100,90,80, and 70 days available, respectively. Based on their knowledge in each subject, the days required by each employee to review each textbook are given below. An X represents that the employee does not have enough knowledge to review the textbook. If a book needs review, each of the three employees will need to spend the following amount of time reviewing it. Book Subject Business Calculus Michael 18 Emily 26 Kristina X Kayla 20 Calculus for Science General Statistics Management Science Business Statistics Finance 16 20 20 14 X 24 26 20 X 30 24 16 14 18 32 X 22 23 Book Subject Financial Accounting Managerial Accounting Statistics for Management Statistics for Economics Michael 20 22 40 Emily X X 34 Kristina 26 30 30 Kayla 30 15 X X 35 28 22 Cengage has the following rules that they want to follow when choosing their textbooks. 1. Cengage wants to publish at least two statistics books 2. Cengage doesn't want to publish more than one Calculus textbook 3. Cengage wants to publish exactly one book with management (or managerial) in the title. 4. Cengage wants to do an equal number of new and revised textbooks. 5. Because of the continuation in courses, if Managerial Accounting is published, they want to publish the Financial Accounting book as well (though Financial is okay on it's own) Managerial Report Prepare a report for Cengage that describes your recommendations for the next year. With the previous conditions met, Cengage's management goal is to maximize the sales revenue. 1. What is the optimal solution? Which textbooks should be published? What is the maximized sales revenue? 3. Based on the answer found in part 1, what would the optimal solution be if Cengage looks at profit instead of revenue