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What is Optimizing Insurance Product Profits about?
The Primo Insurance Company wants to establish sales quotas for two new product lines, special risk insurance and mortgages, to maximize total expected profit. A linear programming model is formulated with the objective of maximizing profit and constraints of work requirements. The optimal solution found graphically and algebraically is 600 units of special risk insurance and 300 units of mortgages, providing maximum expected profit of $3,600.
- Author
- Kricel Maquera
- Language
- EN