Profit = 3(60) + 4(80) = 180 + 320 = 500
An Application of Mathematical Modeling in Business Economics: A Case Study Profit = 3(60) + 4(80) = 180 +
Mathematical modeling has been widely used in business economics to tackle various problems, including production planning, inventory management, and resource allocation. Linear programming (LP) is a fundamental technique in operations research and management science, used to optimize linear objective functions subject to linear constraints. LP has been successfully applied in various industries, including manufacturing, finance, and logistics. including production planning
The maximum profit is:
Hillier, F. S., & Lieberman, G. J. (2015). Introduction to operations research. McGraw-Hill Education. Profit = 3(60) + 4(80) = 180 +