Mathematics for Business

Question

A farmer plants tomatoes, carrots and potatoes in his 2 farms. Farm I produces approximately 20 lbs of tomatoes, 35 lbs of carrots, and 70 lbs of potatoes daily. Farm II produces approximately 30 lbs of tomatoes, 40 lbs of carrots, and 60 lbs of potatoes daily. If he sells tomatoes for $1.15/lb, carrots for $0.80/lb, and potatoes for $0.25/lb. Use matrix multiplication to find the daily revenue received by each farm.

Answer 1

I dont have the proper symbol for the second matrix, but it is a single matrix with 3 vertical entries.

 

 ⌈ 20   35  70 ⌉ *   ⌈ 1.15 ⌉      

 ⌊ 30   40  60 ⌋      ¦  .80 ¦

                           ⌊ .25   ⌋

 

 

= 20*1.15+35*.80+70*.25 =  ⌈ 68.5 ⌉

   30*1.15+40*.80+60*.25 =  ⌊ 81.5  ⌋

 

Hope this helped