Question: The profit function for two products is: Profit = -3x 12 +42x 1 - 3x22 + 48x 2 + 700, where x 1 represents units

The profit function for two products is: Profit =

The profit function for two products is: Profit = -3x 12 +42x 1 - 3x22 + 48x 2 + 700, where x 1 represents units of production of product 1, and x 2 represents units of production of product 2. Producing one unit of product 1 requires 5 labor-hours, and producing one unit of product 2 requires 7 labor-hours. Currently, 24 labor-hours are available. The cost of labor-hours is already factored into the profit function, but it is possible to schedule overtime at a premium of $5 per hour. Formulate an optimization problem that can be used to find the optimal production quantity of products 1 and 2 and the optimal number of overtime hours to schedule. Solve the optimization model you formulated. How much should be produced and how many overtime hours should be scheduled? If needed, round your answers to two decimal digits. Amount Product 1 units Product 2 units Overtime Used hours

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