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In this lesson, we will learn how to use optimization to maximize the profit and how to solve word problems involving real-life situations.
A factory produces chairs and tables and is trying to decide how many of each it needs to produce to maximize its profit.
They have determined the constraints and drawn the feasible region as shown, where
represents the number of chairs and
represents the number of tables.
If they find a buyer who agrees to pay a fee such that they receive 150 profit for each chair and 200 profit for each table, what can they expect their maximum profit to be?
If they can only guarantee a profit of 50 per chair and 180 per table, how many of each should they produce to maximize their profit?
A small company dyes shirts to be either solid color or tie-dye, and they want to decide how
many shirts of each color to prepare for an upcoming sale. They have a budget of $240. Purchasing each shirt costs $2. It costs $0.50 to dye a shirt with a solid color
and $1.50 to produce a tie-dye shirt. They only have 8 hours to prepare all the shirts, and it
takes 2 minutes to dye a solid-color shirt and 10 minutes to dye a tie-dye shirt.
They want to maximize their profit, knowing that they can sell solid-color shirts for $8 each and tie-dye shirts for $10
represent the number of solid-color shirts and
represent the number of tie-dye shirts. Which of the following shows the feasible
State the objective function.
How many of each type of shirt should the company produce to maximize profit?
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