Explanation Given: There are three types of investment named as high risk into oil leases, medium risk in bonds and safe stock investment are 15 % , 9 % , 5 % , respectively and invest $ 50 , 000 , because of the risk investor limit the investment on oil leases and bonds to 30 % of the investment further, it limits the investment on oil leases and stock to 50 % . Formula used: Calculation: Consider the maximization problem, first formulate the problem in the system of linear equations. Take, x 1 be the amount of investment in oil leases then take, x 2 be the amount of investment in stock bonds further, take, x 3 be the amount of investment in safe stock. Take, z be the objective function to maximize as the profit is given high risk into oil leases, medium risk in bonds and safe stock investment are 15 % , 9 % , 5 % . So, the objective function is: z = .15 x 1 + .09 x 2 + .05 x 3 From all three amounts of investment is $ 50000 , so the constraints are: x 1 + x 2 + x 3 ≤ 50000 From the amounts of investment in oil leases and bonds is 30 % of $ 50000 which is: 50000 × 30 100 = 15000 So, the constraints are: x 1 + x 2 ≤ 15000 From the amounts of investment in oil leases and the stock is 50 % of $ 50000 , which is: 50000 × 50 100 = 25000 So, the constraints are: x 1 + x 3 ≤ 25000 Therefore, formulate the problem which is: Maximize, z = .15 x 1 + .09 x 2 + .05 x 3 Subject to, x 1 + x 2 + x 3 ≤ 50000 , x 1 + x 2 ≤ 15000 , x 1 + x 3 ≤ 25000 x 1 ≥ 0 , x 2 ≥ 0 , x 3 ≥ 0 Use two stages method to solve the maximization problem. Then, there are various steps which must follow: Step (1): Modify each equation constraint by an equivalent pair of inequality constraint Step (2): Write each constraint with a positive constant. Step (3): If minimization problem then converts into maximization by replace z = − w . Step (4): Add or subtract surplus variables according to the need of the constraints into equations. Step (5): Write initial simplex table. Step (6): Find a basic feasible solution if a solution exists, which is stage I. Step (7): If basic feasible solution found then do the simplex method further which is a stage and get the optimal solution. Further, to convert linear inequality into the linear equation then take a slack variable and surplus variable which is done by adding and subtracting a non-negative variable to each constraint. If linear equality has less than or equal to sign then, use slack variable by adding as the equation, which is less than or equal to the value if it is equal then the slack variable is zero. If linear equality has greater than or equal to sign then, use surplus variable by subtracting as the equation is greater than or equal to the value, if it is equal then the surplus variable is zero which is: x 1 + x 2 + x 3 + s 1 = 50000 , x 1 + x 2 + s 2 = 15000 , x 1 + x 3 + s 3 = 25000 where s 1 , s 2 , s 3 are greater than or equal to zero Then, rewrite constraints by adding or subtracting the non-negative slack and surplus variables which are: Maximize, z = .15 x 1 + .09 x 2 + .05 x 3 Subject to, x 1 + x 2 + x 3 + s 1 = 50000 , x 1 + x 2 + s 2 = 15000 , x 1 + x 3 + s 3 = 25000 x 1 ≥ 0 , x 2 ≥ 0 , x 3 ≥ 0 s 1 ≥ 0 , s 2 ≥ 0 , s 3 ≥ 0 Then, convert the linear programming into a system of linear equations in which all the coefficient of variables is written on the left of the equal sign and the constants are on the right then convert the objective function into linear equations which are: − .15 x 1 − .09 x 2 − .05 x 3 + z = 0 Then, write the constraint and objective function into the augmented matrix which is in the form of a simplex table: x 1 x 2 x 3 s 1 s 2 s 3 [ 1 1 1 1 0 0 50000 1 1 0 0 1 0 15000 1 0 1 0 0 1 25000 − .15 − .09 − .05 0 0 0 0 ] Here, the last row shows the coefficients of the objective function and last columns shows the constants. The basic variables correspond to columns which have an entry of 1 and rest is zero its value corresponds to the last column which is constant, and the non-basic variables correspond to the other columns and its value is zero. In the above nonbasic variables are x 1 , x 2 , x 3 and the basic variables are s 1 , s 2 , s 3 . Here, x 1 = 0 , x 2 = 0 , x 3 = 0 , s 1 = 50000 , s 2 = 15000 , s 3 = 25000 Above simplex, the table has a basic feasible solution as the basic variable has no negative value so it is said to be basic feasible solution and stage I is completed. In the last row, all the entries except the last and second last entries are called indicators. The simplex table represents a system of four linear equations in seven variables, which is x 1 , x 2 , x 3 , s 1 , s 2 , s 3 , z as there are more variables than equations then the system is dependent, and it has infinitely many solutions. Apply the simplex method for stage II which is: x 1 x 2 x 3 s 1 s 2 s 3 [ 1 1 1 1 0 0 50000 1 1 0 0 1 0 15000 1 0 1 0 0 1 25000 − .15 − .09 − .05 0 0 0 0 ] Multiply the last row by 100 to clear the decimals which are: x 1 x 2 x 3 s 1 s 2 s 3 [ 1 1 1 1 0 0 50000 1 1 0 0 1 0 15000 1 0 1 0 0 1 25000 − 15 − 9 − 5 0 0 0 0 ] In the simplex, choose the pivot entry as the pivot is the most negative indicator, which is − 15

Mathematics with Applications In the Management, Natural and Social Sciences (11th Edition)

11th Edition

ISBN: 9780321931078

Author: Margaret L. Lial, Thomas W. Hungerford, John P. Holcomb, Bernadette Mullins

Publisher: PEARSON

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Chapter 7 Solutions

Mathematics with Applications In the Management, Natural and Social Sciences (11th Edition)

Ch. 7.1 - Checkpoint 1 Graph the given...Ch. 7.1 - Prob. 2CP Ch. 7.1 - Prob. 3CP Ch. 7.1 - Prob. 4CP Ch. 7.1 - Prob. 5CP Ch. 7.1 - Checkpoint 6 Graph the feasible region of the...Ch. 7.1 - Prob. 7CP Ch. 7.1 - Match the inequality with its graph, which is one...Ch. 7.1 - Match the inequality with its graph, which is one...Ch. 7.1 - Match the inequality with its graph, which is one...

Ch. 7.1 - Prob. 4E Ch. 7.1 - Match the inequality with its graph, which is one...Ch. 7.1 - Match the inequality with its graph, which is one...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Prob. 9E Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Prob. 11E Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Prob. 17E Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Prob. 19E Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Prob. 22E Ch. 7.1 - Prob. 23E Ch. 7.1 - Graph each of the given linear inequalities. (See...Ch. 7.1 - Prob. 25E Ch. 7.1 - Prob. 26E Ch. 7.1 - Prob. 27E Ch. 7.1 - Prob. 28E Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Prob. 32E Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Prob. 34E Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Prob. 37E Ch. 7.1 - Prob. 38E Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Prob. 40E Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Prob. 43E Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Graph the feasible region for the given systems of...Ch. 7.1 - Prob. 47E Ch. 7.1 - Prob. 48E Ch. 7.1 - Prob. 49E Ch. 7.1 - Prob. 50E Ch. 7.1 - Prob. 51E Ch. 7.1 - 52. Business A manufacturer of electric shavers...Ch. 7.1 - Prob. 53E Ch. 7.1 - Prob. 54E Ch. 7.1 - Prob. 55E Ch. 7.1 - Prob. 56E Ch. 7.2 - Checkpoint 1 Suppose the objective function in...Ch. 7.2 - Prob. 2CP Ch. 7.2 - Prob. 3CP Ch. 7.2 - Checkpoint 4 Use the region of feasible solutions...Ch. 7.2 - Prob. 5CP Ch. 7.2 - Prob. 6CP Ch. 7.2 - Exercises 1–6 show regions of feasible solutions....Ch. 7.2 - Exercises 1–6 show regions of feasible solutions....Ch. 7.2 - Exercises 1–6 show regions of feasible solutions....Ch. 7.2 - Exercises 1–6 show regions of feasible solutions....Ch. 7.2 - Exercises 1–6 show regions of feasible solutions....Ch. 7.2 - Prob. 6E Ch. 7.2 - Use graphical methods to solve Exercises 7–12....Ch. 7.2 - Use graphical methods to solve Exercises 7–12....Ch. 7.2 - Prob. 9E Ch. 7.2 - Use graphical methods to solve Exercises 7–12....Ch. 7.2 - Use graphical methods to solve Exercises 7–12....Ch. 7.2 - Use graphical methods to solve Exercises 7–12....Ch. 7.2 - Find the minimum and maximum values of (if...Ch. 7.2 - Find the minimum and maximum values of (if...Ch. 7.2 - Find the minimum and maximum values of (if...Ch. 7.2 - Find the minimum and maximum values of (if...Ch. 7.2 - Prob. 17E Ch. 7.2 - 18. Find values and that maximize subject to...Ch. 7.2 - Prob. 19E Ch. 7.2 - Prob. 20E Ch. 7.3 - Prob. 1CP Ch. 7.3 - Prob. 2CP Ch. 7.3 - Prob. 3CP Ch. 7.3 - Prob. 1E Ch. 7.3 - Prob. 2E Ch. 7.3 - Prob. 3E Ch. 7.3 - Write the constraints in Exercises 1–4 as linear...Ch. 7.3 - Prob. 5E Ch. 7.3 - Solve these linear programming problems, which are...Ch. 7.3 - Prob. 7E Ch. 7.3 - Solve these linear programming problems, which are...Ch. 7.3 - Prob. 9E Ch. 7.3 - Prob. 10E Ch. 7.3 - Prob. 11E Ch. 7.3 - Solve these linear programming problems, which are...Ch. 7.3 - Prob. 13E Ch. 7.3 - Solve the following linear programming problems....Ch. 7.3 - Prob. 15E Ch. 7.3 - Prob. 16E Ch. 7.3 - Prob. 17E Ch. 7.3 - Prob. 18E Ch. 7.3 - Prob. 19E Ch. 7.3 - Prob. 20E Ch. 7.3 - Prob. 21E Ch. 7.3 - Solve the following linear programming problems....Ch. 7.3 - Prob. 23E Ch. 7.3 - Prob. 24E Ch. 7.3 - Prob. 25E Ch. 7.3 - Prob. 26E Ch. 7.3 - Prob. 27E Ch. 7.3 - Prob. 28E Ch. 7.3 - Prob. 29E Ch. 7.4 - Prob. 1CP Ch. 7.4 - Prob. 2CP Ch. 7.4 - Prob. 3CP Ch. 7.4 - Prob. 4CP Ch. 7.4 - Prob. 5CP Ch. 7.4 - Prob. 6CP Ch. 7.4 - Prob. 1E Ch. 7.4 - Prob. 2E Ch. 7.4 - In Exercises 1–4, (a) determine the number of...Ch. 7.4 - Prob. 4E Ch. 7.4 - Prob. 5E Ch. 7.4 - Prob. 6E Ch. 7.4 - Prob. 7E Ch. 7.4 - Prob. 8E Ch. 7.4 - Prob. 9E Ch. 7.4 - Prob. 10E Ch. 7.4 - Prob. 11E Ch. 7.4 - Prob. 12E Ch. 7.4 - Prob. 13E Ch. 7.4 - Prob. 14E Ch. 7.4 - Prob. 15E Ch. 7.4 - Prob. 16E Ch. 7.4 - Prob. 17E Ch. 7.4 - Prob. 18E Ch. 7.4 - Prob. 19E Ch. 7.4 - Prob. 20E Ch. 7.4 - Prob. 21E Ch. 7.4 - Use the simplex method to solve Exercises...Ch. 7.4 - Prob. 23E Ch. 7.4 - Prob. 24E Ch. 7.4 - Prob. 25E Ch. 7.4 - Prob. 26E Ch. 7.4 - Prob. 27E Ch. 7.4 - Prob. 28E Ch. 7.4 - Prob. 29E Ch. 7.4 - Prob. 30E Ch. 7.4 - Prob. 31E Ch. 7.4 - Prob. 32E Ch. 7.4 - Use the simplex method to solve Exercises...Ch. 7.4 - Prob. 34E Ch. 7.4 - Use the simplex method to solve Exercises...Ch. 7.4 - Use the simplex method to solve Exercises...Ch. 7.4 - Prob. 37E Ch. 7.4 - Prob. 38E Ch. 7.5 - Prob. 1CP Ch. 7.5 - Prob. 1E Ch. 7.5 - Prob. 2E Ch. 7.5 - Prob. 3E Ch. 7.5 - Set up the initial simplex tableau for each of the...Ch. 7.5 - In each of the given exercises, (a) use the...Ch. 7.5 - In each of the given exercises, (a) use the...Ch. 7.5 - In each of the given exercises, (a) use the...Ch. 7.5 - Prob. 8E Ch. 7.5 - Prob. 9E Ch. 7.5 - Prob. 10E Ch. 7.5 - Prob. 11E Ch. 7.5 - Prob. 12E Ch. 7.5 - Prob. 13E Ch. 7.5 - Prob. 14E Ch. 7.5 - Prob. 15E Ch. 7.5 - Prob. 16E Ch. 7.5 - Prob. 17E Ch. 7.5 - Prob. 18E Ch. 7.5 - Prob. 19E Ch. 7.5 - Prob. 20E Ch. 7.5 - Prob. 21E Ch. 7.5 - Prob. 22E Ch. 7.6 - Checkpoint 1 Give the transpose of each...Ch. 7.6 - Prob. 2CP Ch. 7.6 - Prob. 3CP Ch. 7.6 - Prob. 4CP Ch. 7.6 - Prob. 5CP Ch. 7.6 - Prob. 6CP Ch. 7.6 - Prob. 1E Ch. 7.6 - Prob. 2E Ch. 7.6 - Prob. 3E Ch. 7.6 - Prob. 4E Ch. 7.6 - Prob. 5E Ch. 7.6 - Prob. 6E Ch. 7.6 - Prob. 7E Ch. 7.6 - Prob. 8E Ch. 7.6 - Prob. 9E Ch. 7.6 - Prob. 10E Ch. 7.6 - Prob. 11E Ch. 7.6 - Prob. 12E Ch. 7.6 - Prob. 13E Ch. 7.6 - Prob. 14E Ch. 7.6 - Prob. 15E Ch. 7.6 - Prob. 16E Ch. 7.6 - Prob. 17E Ch. 7.6 - Prob. 18E Ch. 7.6 - Prob. 19E Ch. 7.6 - Prob. 20E Ch. 7.6 - Prob. 21E Ch. 7.6 - Prob. 22E Ch. 7.6 - Prob. 23E Ch. 7.6 - Prob. 24E Ch. 7.6 - Prob. 25E Ch. 7.6 - Prob. 26E Ch. 7.6 - Prob. 27E Ch. 7.6 - 28. Business An animal food must provide at least...Ch. 7.6 - Prob. 29E Ch. 7.6 - 30. Business Joan McKee has a part-time job...Ch. 7.6 - Prob. 31E Ch. 7.6 - Prob. 32E Ch. 7.6 - Prob. 33E Ch. 7.6 - Prob. 34E Ch. 7.7 - Prob. 1CP Ch. 7.7 - Prob. 2CP Ch. 7.7 - Prob. 3CP Ch. 7.7 - Prob. 4CP Ch. 7.7 - Prob. 5CP Ch. 7.7 - Prob. 1E Ch. 7.7 - Prob. 2E Ch. 7.7 - Prob. 3E Ch. 7.7 - Prob. 4E Ch. 7.7 - Prob. 5E Ch. 7.7 - Prob. 6E Ch. 7.7 - Prob. 7E Ch. 7.7 - Prob. 8E Ch. 7.7 - Prob. 9E Ch. 7.7 - Prob. 10E Ch. 7.7 - Prob. 11E Ch. 7.7 - Prob. 12E Ch. 7.7 - Prob. 13E Ch. 7.7 - Prob. 14E Ch. 7.7 - Prob. 15E Ch. 7.7 - Prob. 16E Ch. 7.7 - Prob. 17E Ch. 7.7 - Prob. 18E Ch. 7.7 - Prob. 19E Ch. 7.7 - Prob. 20E Ch. 7.7 - Prob. 21E Ch. 7.7 - Prob. 22E Ch. 7.7 - Prob. 23E Ch. 7.7 - Prob. 24E Ch. 7.7 - Prob. 25E Ch. 7.7 - Prob. 26E Ch. 7.7 - Prob. 27E Ch. 7.7 - Prob. 28E Ch. 7.7 - Prob. 29E Ch. 7.7 - Prob. 30E Ch. 7.7 - Prob. 31E Ch. 7.7 - Prob. 32E Ch. 7.7 - Prob. 33E Ch. 7.7 - Prob. 34E Ch. 7.7 - Prob. 35E Ch. 7.7 - Use the two-stage method to solve Exercises 33–40....Ch. 7.7 - Prob. 37E Ch. 7.7 - Prob. 38E Ch. 7.7 - Prob. 39E Ch. 7.7 - Prob. 40E Ch. 7.7 - Prob. 41E Ch. 7.7 - Prob. 42E Ch. 7.7 - Prob. 43E Ch. 7 - Prob. 1CE Ch. 7 - 2. Consider preparing a stir-fry using beef, oil,...Ch. 7 - Prob. EP Ch. 7 - Prob. 1RE Ch. 7 - Prob. 2RE Ch. 7 - Graph each of the given linear inequalities. 3. Ch. 7 - Prob. 4RE Ch. 7 - Prob. 5RE Ch. 7 - Prob. 6RE Ch. 7 - Prob. 7RE Ch. 7 - Prob. 8RE Ch. 7 - Prob. 9RE Ch. 7 - Prob. 10RE Ch. 7 - Prob. 11RE Ch. 7 - Prob. 12RE Ch. 7 - Prob. 13RE Ch. 7 - Use the graphical method to solve Exercises...Ch. 7 - Use the graphical method to solve Exercises...Ch. 7 - Prob. 16RE Ch. 7 - Prob. 17RE Ch. 7 - Prob. 18RE Ch. 7 - 19. Finance The BlackRock Equity Dividend Fund...Ch. 7 - Prob. 20RE Ch. 7 - Prob. 21RE Ch. 7 - Prob. 22RE Ch. 7 - Prob. 23RE Ch. 7 - Prob. 24RE Ch. 7 - Prob. 25RE Ch. 7 - Prob. 26RE Ch. 7 - Prob. 27RE Ch. 7 - Prob. 28RE Ch. 7 - Prob. 29RE Ch. 7 - Prob. 30RE Ch. 7 - Prob. 31RE Ch. 7 - Prob. 32RE Ch. 7 - Prob. 33RE Ch. 7 - Prob. 34RE Ch. 7 - Prob. 35RE Ch. 7 - Prob. 36RE Ch. 7 - 37. When is it necessary to use the simplex method...Ch. 7 - Prob. 38RE Ch. 7 - 39. What kind of problem can be solved with the...Ch. 7 - 40. In solving a linear programming problem, you...Ch. 7 - Prob. 41RE Ch. 7 - Prob. 42RE Ch. 7 - Prob. 43RE Ch. 7 - Prob. 44RE Ch. 7 - Prob. 45RE Ch. 7 - Use the method of duals to solve these...Ch. 7 - Prob. 47RE Ch. 7 - Prob. 48RE Ch. 7 - Prob. 49RE Ch. 7 - Prob. 50RE Ch. 7 - Prob. 51RE Ch. 7 - Prob. 52RE Ch. 7 - Use the two-stage method to solve these...Ch. 7 - Prob. 54RE Ch. 7 - Prob. 55RE Ch. 7 - Prob. 56RE Ch. 7 - Business Solve the following maximization...Ch. 7 - Prob. 58RE Ch. 7 - Business Solve the following maximization...Ch. 7 - Prob. 60RE Ch. 7 - Prob. 61RE Ch. 7 - Business Solve the following minimization...Ch. 7 - Business Solve these mixed-constraint...Ch. 7 - Business Solve these mixed-constraint...

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