Solve maximization or minimization problems using the principles of linear programming. Interpret the feasible region of a linear programming and apply the simplex method to solve problems. Make sure to include correct mathematical procedures and provide clear and complete explanations and interpretations. In the case that the result is decimal, you will round it to two decimal places.
Use the principles of linear programming to maximize or minimize and interpret the following situation.
1. A tennis racket manufacturer makes a profit of $ 15 for each oversized racket and $ 8 for each standard racket. To meet dealer demand, daily production of standard racquets should be between 30 and 80 and production of oversized racquets should be between 10 and 30. To maintain high quality, the total number of racquets produced should not exceed 80 per day. Use the principles of linear programming to find the minimum cost and determine how many of each type should be manufactured daily to maximize profit.
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