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Kelson Sporting Equipment, Inc., makes two different types of baseball gloves: a regular model and a catcher's model. The firm has 400 hours of production time available in its cutting and sewing department, 300 hours available in its finishing department, and 200 hours available in its packaging and shipping department. The production time requirements and the profit contribution per glove are given in the following table: Production Time (Hours) Model Cutting and Sewing Finishing Packaging and Shipping Profit/Glove Regular model 1/8 1 1/2 $5 Catcher's model 1/2 1/2 3/2 $7 Assuming that the company is interested in maximizing the total profit contribution, answer the following: (a) What is the linear programming model for this problem? If required, round your answers to 3 decimal places or enter your answers as a fraction. Let R = number of units of regular model. C = number of units of catcher's model. Develop a spreadsheet model and find the optimal solution using Solver. How many gloves of each model should Kelson manufacture? What is the total profit contribution Kelson can earn with the given production quantities? How many hours of production time will be scheduled in each department? What is the slack time in each department?
Suppose a human life is worth $10 million. Installing a better lighting system in the city park would reduce the risk of someone being murdered there from 3.5 to 2.9 percent over the life of the system. The city should install the new lighting system..
Explain the structure of the federal judicial system. What are the responsibilities of each part of the system? Need the response to be at least 200 words
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Illustrate what is the mechanism by which an aggregate demand recession is transmitted from one country to another.
Below is the PPF for a society, Rubberland. On a given day, the society can produce according to the PPF below and only makes these two products, rubber band balls and rubber hoses. Point A on the PPF represents what Rubberland currently produces. As..
Suppose that individuals in this economy invest 30% (use .30 in the graph) of what they produce; the labor force in this economy grows at 5% (use .05) per year; and 10% (use .1) of the capital stock wears out each year. Suppose that the capital labor..
A U.S. Chemical firm has a production function of q= 10L^(.32) K ^ .56. It faces factor prices of w= 10 and r = 20. What are its short run marginal and average variable cost curves?
Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both mor..
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