Find the maximum possible profit

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Reference no: EM133672243

Question

Suppose we will make Tea and Lemonade bottles to sell at a stand. We have 1,010 bottles, 400 dollars, and 600 minutes available. Each bottle of tea costs 1 bottle, 0.50 dollars, and 0.75 minutes. Each bottle of lemonade costs 1 bottle, 0.20 dollars, and 0.25 minutes.

The profit per tea bottle is 3 dollars for the first 600 we make. Each tea bottle made in excess of 600 has a profit of 3.50 dollars per bottle (due to bulk purchase discounts). The profit per lemonade bottle is 2 dollars (regardless of how many we make).

Formulate an ILP problem to model this situation and use a solver in Excel to find the maximum possible profit.

Reference no: EM133672243

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