The Childrens Theater Company is a nonprofit corporation managed by Shannon Board. The theater performs in two venues: Kristin Marie Hall and the Lauren Elizabeth Theater. For the upcoming season, seven shows have been chosen. The question Shannon faces is
The Children€™s Theater Company is a nonprofit corporation managed by Shannon Board. The theater performs in two venues: Kristin Marie Hall and the Lauren Elizabeth Theater. For the upcoming season, seven shows have been chosen. The question Shannon faces is how many performances of each of the seven shows should be scheduled. A financial analysis has estimated
revenues for each performance of the seven shows, and Shannon has set the minimum number of performances of each show based upon union agreements with Actor€™s Equity Association and the popularity of the shows in other markets:
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A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
revenues for each performance of the seven shows, and Shannon has set the minimum number of performances of each show based upon union agreements with Actor€™s Equity Association and the popularity of the shows in other markets:
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Kristin Marie Hall is available for 60 performances during the season, while Lauren Elizabeth Theater is available for 150 performances. Shows 3 and 7 must be performed in Kristin Marie Hall, while the other shows are performed in the Lauren Elizabeth Theater. The company wants to achieve revenues of at least $550,000 while minimizing its production costs. Develop and solve a linear optimization model to determine the best way to schedule the shows. Is it possible to achieve revenues of $600,000? What is the highest amount of revenue that can be achieved?
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Transcribed Image Text:
Show Revenue Cost Minimum Number of Performances 1 S 2,217 S 968 2 S 2,330 S 1,568 3 S 1,993 S 755 4 S 3,364 S 1,148 5 S 2,868 S 1.180 6 S 3,851 |S 1,541 7 S 1.836 S 1,359 32 13 23 34 35 16 21
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Xj number of performances of show j Mathematical Model Min 968 X 1 1568 X 2 755 X 3 1148 X 4 11…View the full answer

Related Book For
Statistics Data Analysis And Decision Modeling
ISBN: 9780132744287
5th Edition
Authors: James R. Evans
Posted Date: January 20, 2016 08:40:53
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