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MATH 1103 Lesson 6 035319

The document is a tutorial for MATH 1103: Business Mathematics I, covering topics such as price-demand equations and linear programming. It includes example problems related to demand at different prices and a case study on optimizing production of television sets under labor constraints. The document also outlines steps for summarizing information, writing constraints, and graphing inequalities.

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Mada Banda
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5 views4 pages

MATH 1103 Lesson 6 035319

The document is a tutorial for MATH 1103: Business Mathematics I, covering topics such as price-demand equations and linear programming. It includes example problems related to demand at different prices and a case study on optimizing production of television sets under labor constraints. The document also outlines steps for summarizing information, writing constraints, and graphing inequalities.

Uploaded by

Mada Banda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MATH 1103: BUSINESS MATHEMATICS I

Lesson 6

CUNIMA

March 23, 2023


Tutorial Questions

1 A company has determined that if the price of an item is K40,


then 150 items will be demanded by consumers. When the price
is K45, then 100 items are demanded by consumers. Use this
information to answer the following questions:
i Find the price-demand equation, assuming it is linear.
ii Use use equation in (i) to find the number of items that will be
demanded when the price is K50.
2 Solve the following:
5x + 1 2x − 6
1 | − | ≥ −4
7 4

(CUNIMA) MATH 1103: BUSINESS MATHEMATICS I March 23, 2023 2/4


Introduction to Linear Programming

Linear programming is a mathematical modeling technique in


which a linear function is maximized or minimized when
subjected to various constraints.
This technique has been useful for guiding quantitative decisions
in business planning and management, in industrial engineering,
and to a lesser extent in the social and physical sciences.

(CUNIMA) MATH 1103: BUSINESS MATHEMATICS I March 23, 2023 3/4


Example

A firm produces two types of television sets, type A and type B.


There are two stages of the production production, each
requiring its own specialized kind of labour. Stage I requires
three units of labour on each set of type A, and five units of
labour on each set of type B. The total available quantity of
labour for this stage is 3900. Stage II requires one unit of
labour on each set of type A and three units of labour on each
set of type B. The total labour available for this stage is 2100.
Use this information to answer the following questions:
1 Summarise the information in a table, using x1 as type A
television set and x2 as type B television set
2 Hence write down all the constraints for the information
3 Graph the inequalities

(CUNIMA) MATH 1103: BUSINESS MATHEMATICS I March 23, 2023 4/4

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