Quiz Problems Answers

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1. A farmer has 10 acres to plant in wheat and rye. He has to plant at least 7 acres.

However, he has only $1200 to spend and each acre of wheat costs $200 to plant and
each acre of rye costs $100 to plant. Moreover, the farmer has to get the planting
done in 12 hours and it takes an hour to plant an acre of wheat and 2 hours to plant
an acre of rye. If the profit is $500 per acre of wheat and $300 per acre of rye how
many acres of each should be planted to maximize profits?
2. The sweet Smell fertilizer company markets bags of manure labeled “not less than 60
kilogram dry weight” the packaged manure is combination of compost and sewage
wastes. To provide good-quality fertilizer, each bag should contain at least 30
kilogram of compost but not more than 40 kilogram of sewage. Each ton of compost
costs Sweet Smell $50 and each ton of sewage costs $30. the company want to
determine the best combination of compost and sewage in each bag.
3. Hazem Hassan KPMG is a well-known auditing and reporting
Egyptian company that audit other companies’ financial statements.
Most auditing processing is done by a large pool of computer
auditors and accountants, some of whom are permanent and some
of whom are temporary. A permanent auditors can process 32
audits per day, whereas a temporary auditor can process 24 per day,
and on average the company processes at least 960 audits each day.
The company has 40 computer workstations. A permanent auditor
commits about 1 complete audit with errors each day, whereas a
temporary auditor averages about 2 defective audits per day. The
company wants to limit audits with errors to 50 per day. A
permanent auditor is paid $64 per day, and a temporary auditor is
paid $42 per day. The company wants to determine the number of
permanent and temporary auditors to hire in order to minimize
costs.
4. A candidate for mayor in a small town has allocated $10,000 for
last minute advertising in the days preceding the election. Two
types of ads will be used-Radio and TV. Each radio ad costs $200
and reaches an estimated 3,000 people. Each TV ad costs $500
and reaches an estimated 7,000 people. In planning the advertising
campaign, the campaign manager would like to reach as many
people as possible, but she has stipulated that at least 10 ads of each
type must be used. Also, the number of radio ads must be at least as
great as the number of TV ads. How many ads of each type should
be used? How many people should be reached?
5. This is your lucky day. You have just won a $ 10,000 prize. You
are setting aside $ 4,000 for taxes and parting expenses, but you
have decided to invest the other $ 6,000. Upon hearing this news,
two different friends have offered you to become a partner in two
different small projects, one them is expected to give a profit of $
0.9 for each dollar you invested in, the other is expected to give $1
for every dollar you invested in, you decided to invest at least 25%
of your investment in each project and to minimize the risks you
also decided to invest at most 60% of your investment in the 2nd
project. How much money you have to invest in each project in
order to maximize your profit?
6. Professor Smith teaches two sections of business statistics, which
combined will result in at least 120 final exams to be graded.
Professor Smith has two graduate assistants. Brad and Sarah, who
will grade the final exams. There is a 3-day period between the time
the exam is administered and when final grades must be posted.
During this period Brad has 12 hours available and Sarah has 10
hours available to grade the exams. It takes Brad an average of 7.2
minutes to grade an exam, and it takes Sarah 12 minutes to grade an
exam; however, Brad's exams have errors that will require
Professor Smith to ultimately re-grade 10% of the exams, while
only 6% of Sarah's exams will require re-grading. Professor Smith
wants to know how many exams to assign to each graduate
assistant to grade in order to minimize the number of exams to re-
grade.

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