Question: Formulate the decision variables, objective function, and constraints for each problem. Run the analysis using any of the methods (graphical, using Solver Add-in or LINDO

Formulate the decision variables, objective

Formulate the decision variables, objective function, and constraints for each problem. Run the analysis using any of the methods (graphical, using Solver Add-in or LINDO program) and interpret the results. The Goodwin Company drills offshore oil wells under contract to large oil companies. The company's owner, Jim Goodwin, needs to find an effective way of blending a liquid solution which will provide a non-corrosive storage medium for the company's tungsten carbide drill bits. He has found through some experimentation that two reagents Algine and Benedroll when properly blended, will provide an effective solution. One liter of the solution mix must contain at least 0.2 liter, but no more than 0.6 liter of Algine. The amount of Benedroll in the one-liter mix must be between 0.2 and 0.6 liter. Jim can obtain the required amount of reagents in the mix by blending some amount of Yeltzflux and Zinderfud into a low-cost chemically inert solvent. Yeltzflux is a readily obtained commercial product costing $2.25 per liter; each liter of Yeltzflux contains 0.4-liter Algine and 0.5-liter Benedroll along with other ingredients. Zinderfud is also readily available for $2.38 per liter, and it contains 0.7-liter Algine and 0.4-liter Benedroll. How much Yeltzflux and Zinderfud to put in a one-liter blend of storage solution so the final blend contains the proper levels of reagents at the minimum cost

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