A company is considering two insurance plans with the following types of coverage and premiums: Plan A Plan B Fire/Theft Liability Monthly Premium $24,000 $32,000 $168,000 $130,000 $75 $61 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $75 per month and receive $24,000 in Fire/Theft insurance. Two units of plan A insurance cost $150 per month and give $48,000 in Fire/Theft insurance. The company wants at least $728,000 in coverage for Fire/Theft insurance and $3,874,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan A and What is the minimum monthly premium for the company? $ units of plan B.

A company is considering two insurance plans with the following types of coverage and premiums: Plan A Plan B Fire/Theft Liability Monthly Premium $24,000 $32,000 $168,000 $130,000 $75 $61 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $75 per month and receive $24,000 in Fire/Theft insurance. Two units of plan A insurance cost $150 per month and give $48,000 in Fire/Theft insurance. The company wants at least $728,000 in coverage for Fire/Theft insurance and $3,874,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan A and What is the minimum monthly premium for the company? $ units of plan B.

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter6: Linear Systems

Section6.8: Linear Programming

Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...

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If during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.
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