What is the optimal product composition

Assignment Help Business Management
Reference no: EM132969852

Please use Excel Solver and show clear step up of the problem step by step.

Patterson Nut Company wishes to introduce packaged trail mix as a new product. The five ingredients for the trail mix are: seeds, raisins, granola, pecans and walnuts. Each ingredient contains a certain amount of vitamins, minerals, protein and calories. The marketing department has specified the product to be designed so that a certain minimum nutritional profile is met. The data is shown below summarize the parameters of the problem.

Units per Pound Nutritional Requirement

Seeds Raisins Granola Pecans Walnuts

vitamins 10 20 10 30 20 16

Minerals 5 7 4 9 2 10

Protein 1 4 10 2 1 15

Calories 500 450 160 300 500 600

Cost/pound $4 $5 $3 $7 $6

This data can be interpreted as follows. The trail mix should have at least 16 units of vitamins at least 10 units of minerals, at least 15 units of protein, and at least 600 calories. The columns associated with each ingredient provide us their nutritional composition and cost. For example, a pound of seeds provides 10 units of vitamins, 5 units of minerals, 1 unit of protein, 500 calories and costs $4.

Patterson would like to determine the product composition of a trail mix that meets the nutritional requirements at a minimum cost.

a) Write a mathematical linear program for the above optimization problem, including clearly defined decision variables, objective function and constraints.

b) Solve the linear programming model in Excel Solver. Please take screen shots and show step by step process.

c) What is the optimal product composition? That is, how much of each of the five ingredients should be in the trail mix? State this in words.

d) What is the cost of this optimal product composition. State this in words.

e) Patterson's owner insists that each of the trial mix ingredients makes up at least 15% of the overall trail mix. i) Show mathematically how to modify your model to incorporate this requirement and ii) Implement modification in Solver Model in a separate sheet to determine the new optimal product composition and cost. State the new optimal product composition and its cost. The model should be linear.

Reference no: EM132969852

Questions Cloud

Group of financial advisors : Rita managed a group of financial advisors. She decided to let her employees set their own goals for an appraisal period. She thought they would be more motivat
What the entry to record transaction will include a debit to : What the entry to record the transaction will include a debit to? A firm using the perpetual inventory method retuned defective merchandise costing P5,000
What is human rights and global ethics : What is human rights and global ethics?
What is the maximum amount pierre should be willing to pay : Felix Sani just received a gift, If the current market rate is 7.25 per cent, what is the maximum amount Pierre should be willing to pay for this bond?
What is the optimal product composition : This data can be interpreted as follows. The trail mix should have at least 16 units of vitamins at least 10 units of minerals, at least 15 units of protein, an
What are the firm debt and equity currently worth : The firm has a debt with face value of $380m maturing at that time. What are the firm debt and equity currently worth
Calculate an appropriate discount rate for the merger : Boston Brewery is considering launching a bid to acquire all the share capital of MBE, Calculate an appropriate discount rate for the merger
Determine organization hazard identification : Determine your organization's hazard identification and risk assessment needs in order to develop or access document templates for using. List the main factors
What would be the applied manufacturing overhead : Estimated manufacturing overhead is 200,000 and estimated no of units for a period are 20,000. What would be the applied manufacturing overhead

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd