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I need an explanation for this Business question to help me study.
5. The Pinewood Furniture Company produces chairs and tables from two resources – labor and wood. The company has 80 hours of labor and 36 board-ft. of wood available each day. Demand for chairs is limited to 6 per day. Each chair requires 8 hours of labor and 2 board-ft. of wood, whereas a table requires 10 hours of labor and 6 board-ft. of wood. The profit derived from each chair is $400 and from each table, $100. The company wants to determine the number of chairs and tables to produce each day in order to maximize profit.
Formulate a linear programming model for the above situation by determining
(a) The decision variables.
(b) The objective function.
(c) All the constraints.
Note: Some of the questions above require drawing graphs. Here is a list of options for you to include a graph in your answer.
Draw the graph using MS Paint or CorelDraw or some other software. Copy the graph in a MS Word file and post the file on the course website in appropriate category.
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