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Explain the constraints of the decision problem

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Reference no: EM132712518

C-Town brewery brews two beers: Expansion Draft and Burning River. Expansion Draft sells for $20 per barrel, while Burning River sells for $8 per barrel. Producing a barrel of Expansion Draft takes 8 pounds of corn and 4 pounds of hops. Producing a barrel of Burning River requires 2 pounds of corn, 6 pounds of rice, and 3 pounds of hops. The brewery has 500 pounds of corn, 300 pounds of rice, and 400 pounds of hops. Assuming a linear relationship, use Excel Solver to determine the optimal mix of Expansion Draft and Burning River that maximizes C-Town's revenue.

a) What are the decision variables in this problem?

b) What is the objective function?

c) Explain the constraints of the decision problem.

d) Provide the algebraic (mathematical) formulation of the optimization problem.

e) Determine the optimal solution using Excel Solver.

i. Present a screenshot of your Excel spreadsheet model that shows the optimal solution, including the row and column headings.

ii. Present a screenshot of the Solver Parameter Window after you build your Solver model.

iii. Present a screenshot of your Excel Spreadsheet model that shows the optimal solution, including optimal values of the decision variables and the optimal value of the objective function.

Reference no: EM132712518

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