Business, 24.09.2020 14:01 jamesmith20

The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgages. The expected profit is $2 per unit on special risk insurance and $5 per unit on mortgages. Management wishes to establish sales quotas for the new product lines to maximize total expected profit. The work requirements are as follows: Working-Hours per Unit
Working-Hours
Department Special risk Mortage Available
Underwriting 3 2 2,400
Administration 0 1 800
Claims 2 0 1,200
A. Formulate a linear programming model for this problem.
B. Use the graphical method to solve this problem.
C. Verify the exact value of your optimal solution from part (B) by solving algebraically forthe simultaneous solution of the relevant two equations

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 17:40

Find the expected net profit of an insurance company on a health-insurance policy if: the probability of a $5000 claim is 20%; the probability of a $1000 claim is 60%; the probability of a $20,000 claim is 10%, and the probability of no claim is 10%. the company charges $4000 for this coverage. interpret your answer.

Answers: 3

Answer

Business, 21.06.2019 21:40

The board of directors is the highest ranking body in a corporation, and the chairman of the board is the highest ranking individual. the ceo generally works under the board and its chairman, and the board generally has the authority to remove the ceo under certain conditions. the ceo, however, cannot remove the board, but he or she can endeavor to have the board voted out and a new board voted in should a conflict arise. it is possible for a person to simultaneously serve as ceo and chairman of the board, though many corporate control experts believe it is bad to vest both offices in the same person. true false

Answers: 3

Answer

Business, 22.06.2019 08:30

Match each item to check for while reconciling a bank account with the document to which it relates.(there's not just one answer)1. balancing account statement2. balancing check registera. nsf feesb. deposits in transitc. interest earnedd. bank errors

Answers: 2

Answer

Business, 22.06.2019 13:20

Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?

Answers: 2

Answer

You know the right answer?

The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgag...

Questions