Free Trial

Safari Books Online is a digital library providing on-demand subscription access to thousands of learning resources.


  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • DownloadDownload
  • PrintPrint
Share this Page URL
Help

3. Optimization: Take it to the max > Your objective function

Your objective function

The constraints that you need to put into your objective function are the profit for each toy. Here’s another way to look at that algebraic function:

image with no caption

The profit you get from selling fish and ducks is equal to the profit per duck multiplied by the number of ducks plus the profit per fish multiplied by the number of fish.

image with no caption

Now you can start trying out some product mixes. You can fill in this equation with the values you know represent the profit per item along with some hypothetical count amounts.

image with no caption

This objective function projects a $700 profit for next month. We’ll use the objective function to try out a number of other product mixes, too.

image with no caption

  

You are currently reading a PREVIEW of this book.

                                                                                        

Get instant access to over
$1 million worth of books and videos.

  

Start a Free Trial