Question: You may solve the problem using your choice of software, state which software package/language(s) you used and provide the code or spreadsheet. Product Mix: (7
You may solve the problem using your choice of software, state which software package/language(s) you used and provide the code or spreadsheet.
Product Mix: (7 points)
Acme Industries produces four types of mens ties using three types of material. Your job is to determine how many of each type of tie to make each month. The goal is to
maximize profit, profit per tie = selling price - labor cost material cost. Labor cost is $0.75 per tie for all four types of ties. The material requirements and costs are given below.
| Material | Cost per yard | Yards available per month |
| Silk | $20 | 1,000 |
| Polyester | $6 | 2,000 |
| Cotton | $9 | 1,250 |
| Product Information | Type of Tie | |||
| Silk = s | Poly = p | Blend1 = b | Blend2 = c | |
| Selling Price per tie | $6.70 | $3.55 | $4.31 | $4.81 |
| Monthly Minimum units | 6,000 | 10,000 | 13,000 | 6,000 |
| Monthly Maximum units | 7,000 | 14,000 | 16,000 | 8,500 |
| Material Information in yards | Type of Tie | |||
| Silk | Polyester | Blend 1 (50/50) | Blend 2 (30/70) | |
| Silk | 0.125 | 0 | 0 | 0 |
| Polyester | 0 | 0.08 | 0.05 | 0.03 |
| Cotton | 0 | 0 | 0.05 | 0.07 |
Formulate the problem as a linear program with an objective function and all constraints. Determine the optimal solution for the linear program using any software you want. Include a copy of the code and output. What are the optimal numbers of ties of each type to maximize profit?
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