Linear Programming:

Korean Valves, Inc., produces drainage valves. Two alternative production lines are available. The company just received an order for producing 1,000 Mark I valves. Line 1 can produce the valves at a rate of 15 minutes for each valve. The production capac-ity on line 2 is 5 valves per hour. Line 1 is available, for this order, for not more than 200 hours at 8,000 Korean won an hour. Line 2 is available, for this order, for not more than 170 hours at 50,000 won an hour. Find the best production plan.

a. Formulate in two different ways. (Hint: In one of the ways, the decision variables are in terms of hours.)

b. Solve graphically.

c. Discuss the best allocation of resources