A construction company needs to select a supplier for concrete. Supplier X offers a lower price per cubic yard ($80) but has a 5% defect rate. Supplier Y is more expensive ($90 per cubic yard) but has only a 1% defect rate. Defective concrete requires complete re-work, costing an additional $200 per cubic yard in labor and materials. The company needs 1,000 cubic yards of concrete. For each objective below, select the supplier that would be the better choice.

The correct answer to the question "A construction company needs to select a supplier for concrete. Supplier X offers a lower price per cubic yard ($80) but has a 5% defect rate. Supplier Y is more expensive ($90 per cubic yard) but has only a 1% defect rate. Defective concrete requires complete re-work, costing an additional $200 per cubic yard in labor and materials. The company needs 1,000 cubic yards of concrete. For each objective below, select the supplier that would be the better choice." is Option B: Objective 1: Minimize total cost; Objective 2: Maximize overall project quality.

The other options — A) Objective 1: Minimize total cost; Objective 2: Maximize overall project quality, C) Objective 1: Minimize total cost; Objective 2: Maximize overall project quality, D) Objective 1: Minimize total cost; Objective 2: Maximize overall project quality — are incorrect for this GMAT Exam Prep question. As explained above: For Objective 1 (Minimize total cost): Supplier X total cost = (1000 * 80) + (0.05 * 1000 * 200) = $80,000 + $10,000 = $90,000. Supplier Y total cost = (1000 * 90) + (0.01 * 1000 * 200) = $90,000 + $…