New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Mathematics for Business and Economics

by: Mary Veum

Mathematics for Business and Economics MATH 1070

Marketplace > University of Connecticut > Mathematics (M) > MATH 1070 > Mathematics for Business and Economics
Mary Veum
GPA 3.97


Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Class Notes
25 ?




Popular in Course

Popular in Mathematics (M)

This 11 page Class Notes was uploaded by Mary Veum on Thursday September 17, 2015. The Class Notes belongs to MATH 1070 at University of Connecticut taught by Staff in Fall. Since its upload, it has received 44 views. For similar materials see /class/205829/math-1070-university-of-connecticut in Mathematics (M) at University of Connecticut.

Similar to MATH 1070 at UCONN

Popular in Mathematics (M)


Reviews for Mathematics for Business and Economics


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 09/17/15
C hay cer 3 Lintqr Pijmminj Su on 3 W Unur M Obiec ch gym15 M nsm39hs W Rqs ek atan OVH MKZC a Frame w 523 Transhh quasiion m w 0 linear rP mmmiyf wele 32 Sabre lineariuequah cs FQWHC Ryan 31 Linear Programming Problems 152 4 Linear Programming Applications EXAMPLE 1 Maximizing Profits From Benches A shop manufactures two styles of aluminum park benches fancy and plain The fancy style requires 4 kilograms of aluminum and 6 hours of labor while the plain style requires 4 kilograms of aluminum and 3 hours of labor There are 32 kilograms of aluminum and 36 hours of labor available for the day The fancy style bench earns a pro t of 24 and the plain one 18 Naturally the shop s objective is to maximize its pro ts Write a system of inequalities that expresses this information determine the objective function and write all this as a linear programming problem Solution Begin by de ning the variables Let x the number of fancy benches made y the number of plain benches made The information given in the problem is summarized in the table below Fancy Plain Available Kilograms of Aluminum 4 4 32 Hours of Labor 6 3 36 Pro t 24 18 Since each fancy bench requires 4 kilograms of aluminum there is a total of 435 kilograms of aluminum for these benches Since each plain bench requires 4 kilograms of aluminum there are a total of 4y kilograms of aluminum for these benches Then 4x 43 is the total number of kilograms of aluminum needed to make both of the benches while the total amount available is 32 kilograms Thus 4x 4y 5 32 Since each fancy bench requires 6 hours of labor there are a total of 696 hours of labor needed for these benches Since each plain bench requires 3 hours of labor there are a total of 3y hours of labor needed for these benches Then 6m 3y is the total number of hours of labor needed to make both types of the benches while the total labor available is 36 hours Thus 6m 3y 5 36 39 Naturally we must have a 2 0 and y 2 0 which we refer to as the nonnegativity constraint We then have the system of inequalities con straints 4m 4y 3 32 kilograms of aluminum constraint 6x 3y S 36 hours of labor constraint 903 2 0 nonnegativity constraint The pro t function in dollars is P 2400 18y Our objective is to maximize this function Maximize P 2405 18y objective function Subject to 4m 43 S 32 kilograms of aluminum 65 33 S 36 hours of labor cc y 2 0 nonnegativity Notice that we now have several possibilities for the number of benches produced For example the shop could make one fancy bench and one plain X 393 Emmy W X2 a cauan L X2 23 CWKL X 3 chj V Q VA Fragsquot 2 8 1 421 43 32 6X 33 36 P 24x x33 xa 537o x 2 4 X 4 0 x r 4r D L s Avai 2 L O quotitsng 4quot 9 SO fq m c 2 gt a So i 6b W 980 4 X AO OP D5 7 Vw oFs 1x43580 X7t 4x23 650 370 2x 23 5 so 1939 eox rso l 3x13 4 010 p X 3xch Zje 3X 3M 7 5 v 3 3 2x Yrquot X Z Bxk j l8 53 77 AX f39bgc C anaba c ax Haa C mH laa 7 177 c Xj 4 374 M55 i 3 4 z a A Hjsz 39 4x43582 470 6x 34 3G 8 7 4xqj32 6X3J 3G 43 4X 3932 3yc 6X RZQ j quotY 5 quot x 112 4 xwiwn mXV I gt35 a F m 15 T 439 5 ammva A D 352 H n 0 3 m xM V im m3 Swaia quot4 Ll l n n 5 I l


Buy Material

Are you sure you want to buy this material for

25 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Kyle Maynard Purdue

"When you're taking detailed notes and trying to help everyone else out in the class, it really helps you learn and understand the I made $280 on my first study guide!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.