A small candy shop is preparing for the holiday season. The owner must decide how many bags of deluxe mix and how many bags ofstandard mix of Peanut/Raisin Delite to put up. The deluxe mix has 2/3 pound raisins and 1/3 pound peanuts, and the standard mix has1/2 pound raisins and 1/2 pound peanuts per bag. The shop has 90 pounds of raisins and 60 pounds of peanuts to work with. Peanutscost $.60 per pound and raisins cost $1.50 per pound. The deluxe mix will sell for $4.90 for a one-pound bag, and the standard mix willsell for $4.40 for a one-pound bag. The owner estimates that no more than 300 bags of one type can be sold.a. If the goal is to maximize profits, how many bags of each type should be prepared?Answer is complete and correct.DeluxeStandard90 bags60 bagsb. What is the expected profit?Answer is complete but not entirely correct.Profit6174

The Simplex method is a powerful algorithm in linear programming utilized to solve optimization…

Answered: If the goal is to maximize profits, how…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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VGHC, humanitarian aid service in the Sub-Saharan Africa, operates its laboratory on-site. The lab maintains an inventory of test kits for a variety of procedures. VGHC uses 780 A1C kits each year. Ordering costs are $15 and holding costs are $3 per kit per year. The new price list indicates that orders of fewer than 73 kits will cost $60 per kit, 73 through 144 kits will cost $56 per kit, and orders of more than 144 kits will cost $53 per kit. Determine the optimal order quantity and the total cost.
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If the goal is to maximize profits, how many bags of each type should be prepared? Answer is complete and correct. Deluxe Standard b. What is the expected profit? 90 bags 60 bags Answer is complete but not entirely correct. Profit S 617