Question

In: Statistics and Probability

Lame Example Furniture Company makes two products for its adoring public: chairs (C)and tables (T). Each...

Lame Example Furniture Company makes two products for its adoring public: chairs (C)and tables (T). Each chair requires 5 hours of labor (L) and 4 linear feet of rich mahogany (M), and each table requires 3 hours of labor and 20 linear feet of rich mahogany. The company has 240 labor hours available this week, and the warehouse has 700 linear feet of rich mahogany available. Profit for each chair is $150 and for each table is $750. At the optimal solution, how many tables should be produced? What is the maximum profit?

Expert Solution

Let be the number of chairs and be the number of tables manufactured. Then the LP problem is

The optimum occurs at the corners of the feasible region.

The corners are found below.

Solving together,

The other corners are .

The profit at is

Hence the optimal solution is chairs and tables. The maximum profit is .

orchestra answered 2 years ago

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