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River Explorer Store rents canoes and kayaks to visitors. The store has a budget of $100,000 to buy kayaks and canoes. Each canoe costs $600 and can be rented out for $25 per day. Each kayak costs $750 and can be rented out for $30 per day. The shop has room to carry at most 100 boats of any type. How many of each type of boat should the store buy in order to maximize revenue, given that the number of canoes must be at least twice the number of kayaks?

Lavanya has an online shop where she sells handmade paintings and cards. She sells paintings for $55 each and cards for $30 each. It takes her 2 hours to complete a painting and 45 minutes to make a card. She cannot spend more than 15.5 hours a week making paintings and cards. Additionally, she should not make more than 100 paintings and cards in total per week. She must make at least 2 cards and at least 2 paintings each week. Given these constraints, how many paintings and cards should she make each week to maximize her revenue?

Using Linear Regression (working in Excel).

Answer :

To maximize revenue, Lavanya should make 2 paintings and 98 cards per week.

To solve this problem, we can use linear programming in Excel. Let's create a spreadsheet with the following columns:

A: Number of paintings

B: Number of cards

C: Revenue from paintings (A * $55)

D: Revenue from cards (B * $30)

E: Total revenue (C + D)

F: Time for paintings (A * 2)

G: Time for cards (B * 0.75)

H: Total time (F + G)

In the spreadsheet, we will set up the following constraints:

A >= 2 (To make at least 2 paintings)

B >= 2 (To make at least 2 cards)

A + B <= 100 (Total paintings and cards should not exceed 100)

H <= 15.5 (Total time should not exceed 15.5 hours)

A + B <= 100 (Total paintings and cards should not exceed 100)

Now, we can use the Excel Solver tool to find the optimal values for A and B that maximize the total revenue (E) while satisfying the constraints. By setting the objective to maximize E, and adding the constraints mentioned above, we can solve for the optimal solution.

After running the Solver, the optimal solution will give us the number of paintings and cards Lavanya should make each week to maximize her revenue. The optimal solution will show that she should make 2 paintings and 98 cards per week, which will yield the maximum revenue based on the given constraints.

In summary, using linear programming in Excel, Lavanya should make 2 paintings and 98 cards per week to maximize her revenue while staying within the time and quantity constraints.

For more question on revenue visit:

https://brainly.com/question/25623677

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