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csc2iffy
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Homework Statement
(a) Formulate a LP model for the problem.
x = # units special risk insurance
y = # units mortgages
P = profit
Objective: Maximize P = 5x + 2y
Constraints:
3x + 2y ≤ 2400
y ≤ 800
2x ≤ 1200
x,y ≥ 0
(b) Use graphical method to solve.
I graphed the constraints and saw that the maximum value point within the feasible region is (600,300). Therefore, max P = 5(600)+2(300) = 3600
(c) Verify the exact solution of your optimal solution from part (b) by solving algebraically for the simultaneous solution of the relevant two equations.
Here, I am not sure what the "relevant two equations" are.
Homework Equations
The Attempt at a Solution
This is my attempt at (c):
3x + 2y = 2400 --> y = (1/2)(2400-3x)
2x = 1200 --> x = 600
y = (1/2)(2400 - 3(600)) = 300
Then P = 5x + 2y = 5(600) + 2(300) = 3600
Is this correct?