Formulate an optimization model for the problem

Reference no: EM13236720

Holiday Fruit Company buys oranges and processes them into gift fruit baskets and fresh juice. The company grades the fruit it buys on a scale from 1 (lowest quality) to 5(highest quality). The following table summarizes Holiday 's current inventory of fruit.
Grade Supply(1000s of lbs)
1 90
2 225
3 300
4 100
5 75
Each pound of oranges devoted to fresh juice results in a marginal profit of $2.50, whereas each pound devoted to fresh juice results in a marginal profit of $1.75. Holiday wants the fruit in its baskets to have an average quality grade of at least 3.75 and its fresh juice to have a average quality grade of at least 2.50.

a. formulate an optimization model for this problem.

b. Implement your model in a spreadsheet and solve it .

c. what is the optimal solution.

Reference no: EM13236720

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