BooBoo Magicians [5] BooBoo Magicians is a children\'s party service that organi
ID: 355583 • Letter: B
Question
BooBoo Magicians [5] BooBoo Magicians is a children's party service that organizes entertainment packages for birthday parties and other small celebrations. It does business by selling ready-made entertainment packages. Their current portfolio includes three such packages: (1) Standard, (2) Joyful and (3) Fabulous. Each package requires a certain number of labor hours for its magicians and a set number of balloons bags that are needed for the decorations and tricks. The resources required and profits generated by each package are shown in the table below: Labor req'd Balloons req'd Cost Price Standard 3 hours 2 bags $2K $3K Entertainment Packages Joyful 5 hours 5 bags $3K $5K Fabulous 8 hours 8 bags $4K $7K Part 1 January For the month of January, BooBoo Magicians has 325 bags of balloons and 400 hours of labor available. Their demand is such that, whatever mix of packages they may decide to offer, are guaranteed to sell out completely Q1. Define the variables, clearly. Write the complete model.Explanation / Answer
Variables: Let S, J, F be the number of Standard, Joyful and Fabulous packages to offer in the month of January
Objective: Max (3-2)k*S+(5-3)k*J+(7-4)k*F
s. t.
3S+5J+8F <= 400 (Labor hours )
2S+5J+8F <= 325. (Bags of balloons)
S, J, F >= 0