Question 164583This question is from textbook
: can someone please help me with this problem:
The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. They can produce up to 24 rings each day using up to 60 total man-hours of labor. It takes 3 man-hours to make one VIP ring, versus 2 man-hours to make one SST ring.
How many of each type of ring should be made daily to maximize the company's profit, if the profit on a VIP ring is $60 and on an SST ring is $20?
a. 24 VIP and 4 SST
b. 20 VIP and 0 SST
c. 20 VIP and 4 SST
d. 24 VIP and 0 SST
This question is from textbook
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. They can produce up to 24 rings each day using up to 60 total man-hours of labor. It takes 3 man-hours to make one VIP ring, versus 2 man-hours to make one SST ring.
How many of each type of ring should be made daily to maximize the company's profit, if the profit on a VIP ring is $60 and on an SST ring is $20?
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Quantity Inequality: P + T <= 24
Man-hrs Inequality: 3P + 2T <= 60
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Solve each inequality for P and graph in the 1st quadrant:
P = -T + 24
P = (-2/3)T + 20
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Check the T/P values of the P intercept, the T intercept, and the
intersection of the two equation lines: (0.20), (24,0), and (12,12)
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Evaluate the profit from each production combination:
(0,20): 20*0 + 60*20 = 1200
(24,0): 20*24 + 60*0 = 480
(12,12): 20*12 + 60*12 = 12*80 = 960
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Ans: Best profit with 0 T rings and 20 P rings
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Cheers,
Stan H.
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a. 24 VIP and 4 SST
b. 20 VIP and 0 SST
c. 20 VIP and 4 SST
d. 24 VIP and 0 SST
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