Question: The profit function for two products is: Producing one unit of product 1 requires 4 labor-hours, and producing one unit of product 2 requires 6
Producing one unit of product 1 requires 4 labor-hours, and producing one unit of product 2 requires 6 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.
a. 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.
b. Solve the optimization model you formulated in part a. How much should be produced and how many overtime hours should be scheduled?
Profit =-+42 x1-3G + 48x2 + 700
Step by Step Solution
3.35 Rating (188 Votes )
There are 3 Steps involved in it
Let OT be the number of overtime hours schedul... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
611-M-S-S-M (760).docx
120 KBs Word File
