Question: Solve the following optimization problem by Simplex Algorithm: Mikes Famous Toy Trucks manufactures two kinds of toy trucksa standard model and a deluxe model. In
Solve the following optimization problem by Simplex Algorithm:
Mikes Famous Toy Trucks manufactures two kinds of toy trucksa standard model and a deluxe model. In the manufacturing process each standard model requires 2 hours of grinding and 2 hours of finishing, and each deluxe model needs 2 hours of grinding and 4 hours of finishing. The company has two grinders and three finishers, each of whom works at most 40 hours per week. Each standard model toy truck brings a profit of $3 and each deluxe model a profit of $4. Assuming that every truck made will be sold, how many of each should be made to maximize profits?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
