Trouble understanding how to formulate rhis problem

  • Thread starter angel
  • Start date
In summary, The conversation is about how to formulate a problem involving two types of products (A and B) with varying profit margins. In a monthly production, 16 units of A are made when the profit is £1000 per model, but this decreases to 12 units when the profit is increased to £1200. For product B, the shop sells 20 units when the profit is £1400 per model, but this drops to 10 units when the profit is increased to £2100. The person is trying to maximize revenue, but is struggling to formulate the problem due to lack of information.
  • #1
angel
18
0
hi,

im having a bit of trouble understanding how to formulate rhis problem, can someone please help me?
the problem is:

there are two types of product A and B.

In a monthly prod. the shop makes 16 of A when it makes a profit of £1000 per model, and this drops to 12 when the profit is increased £1200.
Also they sell 20 of B, when their profit is £1400 per model, and when they increase the profit to £2100 they sell only 10.

how do i formulate this problem?
 
Physics news on Phys.org
  • #2
The first question you have to ask - what are you trying to determine? Your statement gives information, but no question.
 
  • #3
well I am trying to maximise the revenue,
so i have to formulate this problem. that's what I am stuck on.
 
  • #4
It looks to me that you don't have enough information to formulate the problem. Decreasing production while increasing revenue can only take you so far.
 

1. What is the first step in formulating a problem?

The first step in formulating a problem is to clearly define and understand the problem. This involves identifying the main issue, gathering all relevant information, and considering any potential constraints or limitations.

2. How can I break down a complex problem into smaller, more manageable parts?

One approach is to use a problem-solving framework, such as the scientific method, to break down the problem into smaller steps. Another strategy is to brainstorm and create a mind map to visualize the different components of the problem.

3. How important is it to clearly define the problem before attempting to solve it?

Defining the problem is crucial in problem-solving as it helps to focus your efforts and prevents wasted time and resources. Without a clear understanding of the problem, it is difficult to come up with an effective solution.

4. What are some common mistakes to avoid when formulating a problem?

Some common mistakes to avoid when formulating a problem include jumping to conclusions or assumptions, not considering all relevant information, and failing to break down complex problems into smaller steps. It is also important to avoid vague or ambiguous problem statements.

5. How can I ensure that I have properly formulated a problem?

One way to ensure that a problem has been properly formulated is to check if it meets the SMART criteria - Specific, Measurable, Achievable, Relevant, and Time-bound. Additionally, seeking feedback from others and revisiting the problem statement regularly can help to refine and improve its formulation.

Similar threads

Buy and Hold Beats Active Investing
    • General Discussion
2
Replies
46
Views
3K
Expected Monthly Profit for a Small Manufacturing Firm
    • Calculus and Beyond Homework Help
Replies
3
Views
1K
Linear Programming Case Study - Case Problem
    • Calculus and Beyond Homework Help
Replies
2
Views
4K
Expected Value: Bidding for a House
    • Precalculus Mathematics Homework Help
Replies
31
Views
2K
Chemical/Paint Best transparent material that allows infrared to pass through?
    • DIY Projects
Replies
13
Views
2K
I Coefficient sign flip in linear regression with correlated predictors
    • Set Theory, Logic, Probability, Statistics
Replies
13
Views
2K
Drawing diagrams in physics is so difficult for me!
    • STEM Academic Advising
Replies
13
Views
810
Who Limits My Internet Speed, and How Do They Do It?
    • Computing and Technology
Replies
15
Views
1K
Marketing Research (Cost, Revenue, Etc.)
    • Precalculus Mathematics Homework Help
Replies
11
Views
4K
How to study physics? (Question for students and instructors)
    • STEM Educators and Teaching
Replies
3
Views
1K

Hot Threads

Recent Insights

Back
Top