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The IT Company Awesome is going to produce product A which will be selling for $50. To produce product A, it will take 25 hours
The IT Company Awesome is going to produce product A which will be selling for $50. To produce product A, it will take 25 hours per unit, unfortunately, due to limited material and funding, there are only 200 hours for the company to produce the product. Being the CEO of the company Awesome, it would be awesome to get the most money out of it: 1. Please write a mathematical model regards the case above 2. Please provide the answer for the objective function Assume being part of company Awesome is to have new product from time to time. The new product B would sell at the price of $25, but it would only take 10 hours to produce it. 3. Show the mathematical model when both products are considered simultaneously 4. Identify the controllable and uncontrollable inputs for this model 5. Draw the flowchart of the input-out process for this model 6. What is the new optimal solution for the quantity of product A and B 7. Is the mathematical model developed a stochastic model? Why or Why not? Please explain The IT Company Awesome is going to produce product A which will be selling for $50. To produce product A, it will take 25 hours per unit, unfortunately, due to limited material and funding, there are only 200 hours for the company to produce the product. Being the CEO of the company Awesome, it would be awesome to get the most money out of it: 1. Please write a mathematical model regards the case above 2. Please provide the answer for the objective function Assume being part of company Awesome is to have new product from time to time. The new product B would sell at the price of $25, but it would only take 10 hours to produce it. 3. Show the mathematical model when both products are considered simultaneously 4. Identify the controllable and uncontrollable inputs for this model 5. Draw the flowchart of the input-out process for this model 6. What is the new optimal solution for the quantity of product A and B 7. Is the mathematical model developed a stochastic model? Why or Why not? Please explain
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