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Answers
Answer:
Oily Oil Company has decided to introduce three oil mixes made from blending two
or more oils. One jar of olive-vegetable oil requires 6 oz each of olive and vegetable
oils. One jar of vegetable-peanut oil requires 10 oz of vegetable oil and 6 oz of
peanut oil. Finally, one jar of olive-vegetable-peanut oil requires 3 oz of olive oil, 7
oz of vegetable oil, and 2 oz of peanut oil. The company has decided to allot 15000 oz of olive oil, 23000 oz of vegetable oil, and 4000 oz of peanut oil for the initial
production run. Its profit on one jar of olive-vegetable is $1.10, its profit on one jar of
vegetable-peanut oil is $ 0.70, and its profit on one jar of olive-vegetable-peanut oil is
$0.60. To realize a maximum profit, how many jars of each blend should the
company produce?
Questions
You should answer the following questions and incorporate your answers into a word-processed report to form part of your final pdf. The sections of your report shouldcorrespond to the individual questions following.
a) Formulate the problem as a linear programming model, clearly defining the
variables, the objective function and the constraints.
b) Solve the problem using Simplex method.
c) Solve the problem using the Excel Solver and interpret the results.
d) For the final part of your report, in your capacity as an Adviser, you should
present a memorandum to the Oily Oil Company. Describe your main
conclusions in simple, non-technical English, i.e. do not use technical
terms like variable, objective function or dual price. Don’t worry about
repeating some or all of the points that you have already made in answer
to earlier questions. The aim is to communicate your conclusions clearly
to someone who is knowledgeable about the combination of contents used
in the mixture, but who knows nothing about the subject of linear
programming. You may use tables and charts if you wish.
