Quantitative Methods
for Banking and Finance
Cookie Monster has started a
new cookie bakery to manufacture chocolate chip cookies and vanilla cookies to
distribute to groceries. Chocolate chip cookies cost him $2500 to
manufacture. Vanilla cookies cost $3000 to manufacture since they contain
a secret ingredient that enhances the taste and gives them a special flavour.
To ensure the company’s
profitability, the production manager, The Count, has calculated that at least
30 pounds of chocolate chip cookies and at least 20 pounds of vanilla cookies
must be produced during the first month. Oscar the Grouch can supply the
secret ingredient for the cookies during the time-frame but it must be used
within 30 days. To avoid any wastage, Cookie Monster must produce at
least 60 pounds of cookies in the 30 days.
a. Draw a graph to
illustrate Cookie Monster’s feasibility region. 5 marks
b. Show the optimal
solution for Cookie Monster’s bakery on the graph. 10 marks
c. What is the lowest
cost to Cookie Monster’s bakery? 10 marks
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