Que 4. A company wants to maximise PROFIT by
producing and selling products P1, P2and P3 with
known profit margin as mentioned below.
The unit selling price of P1, P2 and P3 are Rs 50,
Rs 60 and Rs 20 resp and profit margins are 20%,
15%, and 15% resp.
The organisation has a maximum capacity of 3000
units to produce and sell these products.
As per the market demand, a maximum of 1000
units of P1 and a minimum of 500 units of P3 has
to be produced and sold.
As a marketing analytics expert, help the manager
in developing a mathematical model and help him
deciding on the units to be produced and sold to
maximise the total profit. Also, highlight the steps
followed along with answers.
Answers
Answer:
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Answer:
MATHS
A chemical company produces two products,X and Y.Each unit of product X requires 3hrs on operation I and 4hrs on operation II,while each unit of product Y requires 4hrs on operation I and 5hrs on operationII.
Total available time for operations I and II is 20hrs and 26 hrs respectively.The production of each unit of product Y also results in two units of a by-product Z at no extra cost.
Product X sells at profit of Rs.10/unit, while Y sells at profit of Rs.20/unit.By-product Z brings a unit profit of Rs.6 if sold;in case it cannot be sold, the destruction cost is Rs.4 per unit.Forecasts indicate that not more that 5 units of Z can be sold.Formulate the L.P model to determine the quantities of X and Y to be produced,keeping Z in mind, so that the profit earned is maximum.