Product Mix Decision, Single Constraint Patz Company makes three types of stainless steel frying pans. Each of the three types of pans requires the use of a special machine that has total operating capacity of 157 150 hours per year. Information on each of the three products is as follows: Basic Standard Deluxe Selling price $12.28 $17.90 $34110 Unit variable cost S7/08 $12.18 $15.24 Machine hours required 0.10 0.20 0.50 The marketing manager has determined that the company can sell all that it can produce of each of the three products, Required: 1. How many of each product should be sold to maximize the total contribution margin? If a product should not be produced at all, enter"0" for your answer. Number of basic units: Number of standard units: Number of deluxe units: What is the contribution margin per machine hour for each of these products? If required, round your answers to the nearest cent. Basic units: per machine hour Standard units: per machine hour Deluxe units: per machine hour What is the total contribution margin for this product mix? 2. Suppose that Patz can sell no more than 257,000 units of each type at the prices indicated. What product mix would you recommend? Number of basic units: Number of standard units: III Number of deluxe units: What would be the total contribution margin? 3. What data analytic type(s) are being used in Requirements 1 and 2? Choose from the following types: descriptive, diagnostic, predictive, and prescriptive. Explain your choices. See Exhibits 2.5 and 2.6, for a brief review of data analytics. In both requirements, the optimal product mix is calculated by the model; thus, the mix is what used and accordingly corresponds to the type