Olivia loves graphic design and decided to start doing e-commerce with her talent. She focuses on...
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Olivia loves graphic design and decided to start doing e-commerce with her talent. She focuses on the niche market of hand-made vehicle stickers. She has three types of designs: animal and superhero. It takes her 1 hour to finish 1 batch of animal stickers and 1.5 hours to finish a batch of superhero stickers. She does this as a hobby so has limited time of 10 hours/ week to make stickers. Based on some research on the market, she should make at most 8 batches of stickers per week. She makes a profit of $25/batch on animal stickers and $15/ batch on superhero ones. How many animal and superhero stickers should Olivia make each week to maximize the profit. (Note: You do not need to write down the constraint that decisions variables are integers.) Specs for acceptable work: ● ● ● ● ● a Formulate a linear programming problem, that is, define the decision variables and write down the objective function and constraints. Decision variables are defined correctly in words with unit present Objective function has the correct optimization symbol (max or min) and correct coefficients to the decision variables Specs for acceptable work: At least one constraint (other than the non-negativity constraints) line and its feasible direction are correct Feasible region is shaded or otherwise identified ● At least 2/3 of the coefficients, from both the left- and right-hand sides, in the constraints (other than the non-negativity constraints) are correct The inequality signs of all constraints are correct |b| Draw the feasible region. Find the optimal solution and the corresponding optimal objective function value. Specs for acceptable work: At least two extreme points are identified correctly given the feasible region from 2), which might not be completely correct by itself The process of finding the optimal solution based on extreme points from 2), which might not be completely correct by itself, is correct Olivia loves graphic design and decided to start doing e-commerce with her talent. She focuses on the niche market of hand-made vehicle stickers. She has three types of designs: animal and superhero. It takes her 1 hour to finish 1 batch of animal stickers and 1.5 hours to finish a batch of superhero stickers. She does this as a hobby so has limited time of 10 hours/ week to make stickers. Based on some research on the market, she should make at most 8 batches of stickers per week. She makes a profit of $25/batch on animal stickers and $15/ batch on superhero ones. How many animal and superhero stickers should Olivia make each week to maximize the profit. (Note: You do not need to write down the constraint that decisions variables are integers.) Specs for acceptable work: ● ● ● ● ● a Formulate a linear programming problem, that is, define the decision variables and write down the objective function and constraints. Decision variables are defined correctly in words with unit present Objective function has the correct optimization symbol (max or min) and correct coefficients to the decision variables Specs for acceptable work: At least one constraint (other than the non-negativity constraints) line and its feasible direction are correct Feasible region is shaded or otherwise identified ● At least 2/3 of the coefficients, from both the left- and right-hand sides, in the constraints (other than the non-negativity constraints) are correct The inequality signs of all constraints are correct |b| Draw the feasible region. Find the optimal solution and the corresponding optimal objective function value. Specs for acceptable work: At least two extreme points are identified correctly given the feasible region from 2), which might not be completely correct by itself The process of finding the optimal solution based on extreme points from 2), which might not be completely correct by itself, is correct
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a Decision Variables Let x be the number of batches of animal stickers produced per week and y be th... View the full answer
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Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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