The American Safety Council has allocated $500,000 for projects designed to prevent automobile accidents. Four proposals were submitted: (a) TV advertisements, (b) teenage safety education, (c) improved airbags, and (d) enforcement of driving laws. The projects are expected to result in the reduction of both fatalities and property damage, as shown in the table to the right. The council has decided that no single project will be awarded more than $250,000. They also wish to award at least $50,0000 for teenage education. Finally, they want to award at least $1 for improved airbags for each dollar awarded for TV advertisements. The federal government, for internal analysis purposes, has as- sessed the average value of a human life as being $400,000. Eмpected Reduotion in Average property damage averted Fatalities per $1,000 0.25 0.32 0.15 0.28 Project per $1,000 A TVAdvert Teenage educatio 300 500 B Airbags Laws 250 Budget Life Value Max aw ard Project B Min 500000 400000 250000 50000 Formulate the initial Tableau for the Simplex Method
The American Safety Council has allocated $500,000 for projects designed to prevent automobile accidents. Four proposals were submitted: (a) TV advertisements, (b) teenage safety education, (c) improved airbags, and (d) enforcement of driving laws. The projects are expected to result in the reduction of both fatalities and property damage, as shown in the table to the right. The council has decided that no single project will be awarded more than $250,000. They also wish to award at least $50,0000 for teenage education. Finally, they want to award at least $1 for improved airbags for each dollar awarded for TV advertisements. The federal government, for internal analysis purposes, has as- sessed the average value of a human life as being $400,000. Eмpected Reduotion in Average property damage averted Fatalities per $1,000 0.25 0.32 0.15 0.28 Project per $1,000 A TVAdvert Teenage educatio 300 500 B Airbags Laws 250 Budget Life Value Max aw ard Project B Min 500000 400000 250000 50000 Formulate the initial Tableau for the Simplex Method
Chapter1: Financial Statements And Business Decisions
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