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A feed company produces two types of cattle feed, both consisting totally of wheat and alfalfa. Feed 1 must contain at least 75% wheat, and feed 2 must contain at least 65% alfalfa. Feed 1 sells for $2.50 per pound, and feed 2 sells for $2.10 per pound. The company can purchase up to 10,000 pounds of wheat at $0.75 per pound and up to 8000 pounds of alfalfa at $0.55 per pound. Demand for each type of feed is unlimited. Determine how to maximize the company’s profit.

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Practical Management Science

6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659

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Section
BuyFindarrow_forward

Practical Management Science

6th Edition
WINSTON + 1 other
Publisher: Cengage,
ISBN: 9781337406659
Chapter 4, Problem 70P
Textbook Problem
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A feed company produces two types of cattle feed, both consisting totally of wheat and alfalfa. Feed 1 must contain at least 75% wheat, and feed 2 must contain at least 65% alfalfa. Feed 1 sells for $2.50 per pound, and feed 2 sells for $2.10 per pound. The company can purchase up to 10,000 pounds of wheat at $0.75 per pound and up to 8000 pounds of alfalfa at $0.55 per pound. Demand for each type of feed is unlimited. Determine how to maximize the company’s profit.

Summary Introduction

To determine: The way to maximize the profit of the company.

Linear programming:

It is a mathematical modeling procedure where a linear function is maximized or minimized subject to certain constraints. This method is widely useful in making a quantitative analysis which is essential for making important business decisions.

Explanation of Solution

Model:

Solver input:

The solver input is selected from under the “Data” tab in Excel and the input is given as shown below:

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Chapter 4 Solutions

Practical Management Science
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