Phil Bert's Nuthouse Is Preparing a New Product, a Blend

question 60

Essay

Phil Bert's Nuthouse is preparing a new product, a blend of mixed nuts. The product must be at most 50% peanuts, must have more almonds than cashews, and must be at least 10% pecans. The blend will be sold in one-pound bags. Phil's goal is to mix the nuts in such a manner that all conditions are satisfied and the cost per bag is minimized. Peanuts cost $1 per pound. Cashews cost $3 per pound. Almonds cost $5 per pound and pecans cost $6 per pound. Identify the decision variables of this problem. Write out the objective and the set of constraints for the problem. Do not solve.

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Definitions:

Startups

Newly established businesses, typically small, that aim to meet a marketplace need by developing a viable business model around a product, service, process, or platform.

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The act of obtaining funds from an individual, bank, or financial institution to be repaid over time, often with interest.

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Assets owned by a business, including physical locations, intellectual property, and tangible assets.

High-Technology

Pertaining to the most recent and advanced technology available, especially in the fields of electronics and computing.