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In Business Mathematics and Statistics, a production plan represents the quantities of different products that a business intends to produce during a particular period. When the quantities of the products are arranged vertically in a single column, the resulting mathematical representation is called a column matrix. Thus, a production plan can be conveniently expressed in matrix form by writing the production quantity of each product one below another. Suppose a firm produces three products, namely Product A, Product B, and Product C. If the planned production quantities are 500 units of Product A, 300 units of Product B, and 200 units of Product C, then the production plan can be expressed as the column matrix [ P= \begin{bmatrix} 500\ 300\ 200 \end{bmatrix} ] Here, (P) is the production-plan matrix. It is a matrix of order (3\times1), because it has three rows and one column. Each __________ ______ _________ ________ ______ _______ ____ _____ _____ _________ __________.
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