Formulate but Do Not Solve the Following Exercise as a Linear

question 145

Multiple Choice

Formulate but do not solve the following exercise as a linear programming problem. Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $15,000/day to operate, and it yields 30 oz of gold and 3,000 oz of silver each day. The Horseshoe Mine costs $17,000/day to operate, and it yields 65 oz of gold and 1,000 oz of silver each day. Company management has set a target of at least 550 oz of gold and 17,000 oz of silver. How many days should each mine be operated so that the target can be met at a minimum cost?

• A) Minimize: Subject to:
• B) Minimize: Subject to:
• C) Minimize: Subject to:
• D) Minimize: Subject to:

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Definitions:

Facility Costs

Expenses associated with the physical resources required for operations, including rent, utilities, maintenance, and equipment.

Performance Dimensions

Various metrics and criteria used to evaluate and measure the effectiveness, efficiency, and quality of operations in a business or project.

Response Time

The amount of time it takes for a system or entity to react to a given input or request.

Product Variety

The range of different products or variations offered by a company to its customers.