Determine the decision variables

Assignment Help Econometrics
Reference no: EM13177527

The Charm City Cereal Company makes a cereal from several ingredients. Two of the ingredients, oats and rice, provide vitamins A and B. The company wants to know how many ounces of oats and rice it should include in each box of cereal to meet the minimum requirements of 45 milligrams of vitamin A and 20 milligrams of vitamin B while minimizing cost. An ounce of oats contributes 8.5 milligrams of vitamin A and 1.2 milligram of vitamin B, whereas an ounce of rice contributes 6.4 milligrams of A and 2.2 milligrams of B. An ounce of oats costs $0.08, and an ounce of rice costs $0.05.

Formulate a linear programming model for the above situation by determining
(a) The decision variables.
(b) The objective function.
(c) All the constraints.

Reference no: EM13177527

Questions Cloud

How much does each have : Eve said to Adam, "If you give me one dollar, then we will have the same amount of money." Adam then replied, "Eve, if you give me one dollar I will have double the amount of money you are left with." How much does each have?
How might a company reduce its cash conversion cycle : Why might a company want to reduce its cash conversion cycle - How might a company reduce its cash conversion cycle?
What would happen to america''s current account : If American consumers decrease their spending on imports but leave their overall consumption spending constant, "hence buying more locally made goods", with all other factors constant what would happen to America's current Account and why ?
Is the doctor''s research an abuse of technology : Should the doctor's activity be considered a violation of the law, a deviant act, or neither? If this activity is a violation of the law or should be, how may it be stopped, especially if the doctor goes overseas? Is the doctor's research an abuse of..
Determine the decision variables : A and 20 milligrams of vitamin B while minimizing cost. An ounce of oats contributes 8.5 milligrams of vitamin A and 1.2 milligram of vitamin B, whereas an ounce of rice contributes 6.4 milligrams of A and 2.2 milligrams of B. An ounce of oats cos..
How management should use an activity based budget : Describe the meaning and the components of a financial reporting system, write a description of how management should use an activity based budget instead of an operating budget and explain the similarities and differences of the two budgets
What is germany''s current account balance : Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
Compute the net increase or decrease in net income : Compute the net increase or decrease in net income for the month from the recognition of the adjustments
What is the purpose of government : What is the purpose of government? Why do we need government? Should the government have any concern for the moral character of the citizens? If not, then what should the government be concerned with?

Reviews

Write a Review

 

Econometrics Questions & Answers

  Calculate the price elasticity of demand in summer

Calculate the price elasticity of demand in summer for transit services and the cross-price elasticity of demand for transit with respect to the level of business activity.

  Compute the project expected npv and standard deviation

Huang Industries is planning a proposed project whose estimated NPV is twelve million dollar. This estimate suppose that economic situations will be average.

  Regression equation to predict average hourly earnings

This question refers to the estimated regressions in table 1 computed using data for 1988 from the United States Current Population opinion poll.

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Market equilibrium price and quantity for beer case

Assume the demand function and the supply functions for 24-can beer case in Houston are: Demand: QD = 1,000 ? 50P Demand: QS = 40P + 100 (a) What are the market equilibrium price and quantity for beer case?

  Find the intercept and slope of the linear function

Suppose that some variable is growing at constant rate. a. Prove that the natural logarithm of that variable is a linea r function of time. b. Find the intercept and slope of the linear function in part a.

  Calculate e(c)- cov(xy)- var(c)

X and Y are two random variables. The average value of X is 40,000 and X has a standard deviation of 12,000. The average value of Y is 45,000 and the standard deviation of Y is 18,000. The correlation between X and Y is 0.80.

  Demand curve for the restaurant

Suppose you have been recently employed as manager of a restaurant and a very important credit card firm offers you a deal that is supposed to raise your sales.

  Calculate the country''s steady state level of output

A country is described by the Solow Model with a production function y = \(k^{1/2}\) where y is output per worker and k is capital per worker. Now suppose that the fraction of output invested (or saved) is 50%. Assume that the depreciation rate is..

  Multiple choice - economics and management review

Determine when the exponents of a Cobb-Douglas production function sum to more than one, the function exhibits

  The theoretical background and hypothesis

The theoretical background and hypothesis and the methodology section and What is the theoretical basis for answering the research question? That is, what are the arguments, given the existing theories, about how you key independent variable "X" i..

  Determine the probability of winning

Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd