A jewelry store makes necklaces and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Eachnecklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounces of platinum. Thedemand for bracelets is no more than four. A necklace earns $300 in profit and a bracelet, $400. The store wants to determine the number ofnecklaces and bracelets to make in order to maximize profit. Formulate a linear programming model for this problem.

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.