Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Do not solve list all the X and Y variables, objective function and contraints for the below problem

ASW Publishing, Inc., a small publisher of college textbooks, must make a decision regarding which books to publish next year. The books under consideration are listed in the following table, along with the projected three­year sales expected from each book.

Book Subject Type of Book Projected Sales (000s)

Business calculus New 20

Finite mathematics Revision 30

General statistics New 15

Mathematical statistics New 10

Business statistics Revision 25

Finance New 18

Financial accounting New 25

Managerial accounting Revision 50

English literature New 20

German New 30

The books that are listed as revisions are texts that ASW already has under contract; these texts are being considered for publication as new editions. The books that are listed as new have been reviewed by the company, but contracts have not yet been signed.The company has three individuals who can be assigned to these projects, all of whom have varying amounts of time available; John has 60 days available, and Susan and Monica both have 40 days available. The days required by each person to complete each project are shown in the following table. For instance, if the business calculus book is published, it will require 30 days of John's time and 40 days of Susan's time. An ''X" indicates that the person will not be used on the project. Note that at least two staff members will be assigned to each project except the finance book

Book Subject John Susan Monica

Business calculus 30 40 X

Finite mathematics 16 24 X

General statistics 24 X 30

Mathematical statistics 20 X 24

Business statistics 10 X 16

Finance X X 14

Financial accounting X 24 26

Managerial accounting X 28 30

English literature 40 34 30

German X 50 36

ASW will not publish more than two statistics books or more than one accounting text in a single year. In addition, management has decided that one of the mathematics books (business calculus or finite math) must be published, but not both.

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