The CZ Jewelry Company produces two products: (1) engagement rings and (2) jewel

Question

The CZ Jewelry Company produces two products: (1) engagement rings and (2) jeweled watches. The production process for each is similar in that both require a certain number of hours of diamond work and a certain number of labor hours in the gold department. Each ring takes 4 hours of diamond work and 2 hours in the gold shop. Each watch watch requires 3 diamond hours in diamonds and 1 hour in the gold department. There are 240 hours of diamond labor available and 100 hours of gold department time available for the next month. Each engagement ring sold yields a profit of $9; each watch sold yields a $10 profit.

1. Formulate this problem.

Thanks alot!

Explanation / Answer

Each engagement ring sold yields a profit of $9; each watch sold yields a $10 profit

Max: 9X1 + 10X2

Each watch requires 3 diamond hours in diamonds and 1 hour in the gold department.

Each ring takes 4 hours of diamond work and 2 hours in the gold shop.

There are 240 hours of diamond labor available and 100 hours of gold department time available for the next month

4X1 + 3X2< 240   (hours of diamond work)

                     2X1 + X2< 100   (hours of gold work)

Solution:

Max: 9X1 + 10X2

s.t.     4X1 + 3X2< 240         

           2X1 + X2< 100            

           X1, X2> 0

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