Question: PLEASE SOLVE USING LINGO. DO NOT USE EXCEL AND DO NOT COPY PREVIOUS ANSWERS. (25 marks) A paint blending operation buys paint in five colours.

 PLEASE SOLVE USING LINGO. DO NOT USE EXCEL AND DO NOT

PLEASE SOLVE USING LINGO. DO NOT USE EXCEL AND DO NOT COPY PREVIOUS ANSWERS.

(25 marks) A paint blending operation buys paint in five colours. These are white, black, and the three primary colours of red, blue, and yellow. There are five vats in which to receive these colours from the supplier; the white vat and the black vat each has a capacity of 5000 litres. Each primary colour vat has a capacity of 25,000 litres. All paint regardless of colour is purchased at a price of $9 per litre. Each product is made as a specified percentage of the five basic paints. Here is the list of their products: There are also six vats for the products. For each of the six products, there is a dedicated 15,000 litre capacity vat. All these products are sold at a price of $12 per litre. Assume that no paint is lost in the blending process. (a) Give the model in LINGO, or the Excel Solver with a screenshot of the Solver Parameters box, for this situation, including your name, student number, and the definitions of the variables. (Hint: only 11 variables are needed.) (b) Solve this model, and obtain the sensitivity report. (c) The plant management could seek some funds which could be used to expand the capacity of one or more of the 11 vats. Spreading out such costs over time would work out to a price of about $2.00 per litre to expand any of the 11 vats. Based on the information which could be gleaned from the sensitivity report(s) alone, and considering several possibilities, what would you recommend to management

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