Solve the problem.A large insurance company has a data processing division and an actuarial division. For each $1 worth of output the data processing division needs $0.20 worth of data processing and $0.40 worth of actuarial science. For each $1 worth of output, the actuarial division needs $0.30 worth of data processing and $0.10 of actuarial science.(a) Write the input-output matrix for the insurance company. (b) The company estimates a demand of 5 million dollars for the data processing division and 2 million for the actuarial division. Let x be the production level of the data processing division and let y be the production level of the actuarial division. Write a matrix equation to fit this problem.(c) At what levels should each division produce to meet the demand?
What will be an ideal response?
| (a) | DPD AD |
(b)
= 
+ 
(c) data processing division should produce $8.5 million, actuarial division should produce $6 million
Mathematics
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