River Explorer Store rents canoes and kayaks to the visitors. The store has $100,000 in budget to buy kayaks and canoes. Each canoe cost $600 and could be rented out for $25/day. On the other hand, each kayak cost $750 and could be rented out for $30/day. The shop has room to carry at most 100 boats of any type. In this situation how many of each type of boat the store should buy in order to maximize revenue. Keep in mind that the number of Canoes has to be at least twice the number of kayaks.
Lavanya has an online shop where she sells handmade paintings and cards. She sells the painting for $55 and the card for $30. It takes her 2 hours to complete 1 painting and 45 minutes to make a single card. She also has a day job and makes paintings and cards in her free time. She cannot spend more than 15.5 hours a week to make paintings and cards. Additionally, she should make not more than 100 paintings and cards in total per week. Last but not the least, based on the market demand she has to make at least 2 card and at least 2 paintings. Given the constraints,
how many paintings and cards should she make each week to maximize her revenue.
Using Liner Regression (working in excel)