faithless1
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LP Model help!
I've been having a difficult time with figuring out a problem using solver to figure our the following and come up with a graph.
First product pound contains 20% cp, 20% rb and 15% mb
Second product pound contains 30% cp, 25% rb and 10% mb
First product costs $90 for each pound
Second product costs $120 for each pound
I want to buy enough of both products to get at least 8 pounds of cp, 6 pounds of rb, and 5 pounds of mb while paying the least. For this, I'm using an LP model and trying to sketch a region but it's not making much sense as well as the optimal price.
Thank you in advance.
First product pound contains 20% cp, 20% rb and 15% mb
Second product pound contains 30% cp, 25% rb and 10% mb
First product costs $90 for each pound
Second product costs $120 for each pound
I want to buy enough of both products to get at least 8 pounds of cp, 6 pounds of rb, and 5 pounds of mb while paying the least. For this, I'm using an LP model and trying to sketch a region but it's not making much sense as well as the optimal price.
Thank you in advance.
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ASKER
Perfect, thanks. Solver usage was my main problem so thanks for that. I've been out of prison for some time now, just need this for a business plan I'm working on. For the graph I just need optimums for both amounts along with constraints. I should be able to figure the graph so no worries if it requires a lot more time. Thanks again.
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Note: From a mathematical standpoint, the way to calculate the optimum analytically would be to simply get the cost at each critical point (All product 1, all product 2, and all the intersections of the other lines). In this specific instance you only have one intersection in the possible range (where P1,P2 >=0). So you would only need to check three points.
ASKER
Thank you!!!! I made a few minor adjustments but essentially this is exactly what I needed! Thanks again, very much appreciated.
ASKER
Thanks!
You're welcome. Good luck with your business plan.
ASKER