George is planning to have a one-day stand at the Boy Scout event. He is plannin

Question

George is planning to have a one-day stand at the Boy Scout event. He is planning to sell his entire inventory by the end of the day. He has 200 cans of lemonade, 300 cans of Coke, 400 small bottles of Coke. Each can cost him 50 cents. He wants to sell at least 100 lemonade and 200 Coke Cans. The cost of renting the stand for one-day is $100. He wants to price lemonade at $1 each, coke can at $1.5 and bottles at $2. Using Excel Solver calculate the number of individual items he should attempt to sell to maximize his profit. (Note: Include the rental cost in the price of the individual items)

Explanation / Answer

Let x be the number of lemonade cans, y - coke cans and z- small coke bottles

x >= 100

y >= 200

x <= 200

y <= 300

z <= 400

Zmax = x + 1.5y + 2z - 100 - 0.5x - 0.5y - 0.5z

Zmax = 0.5x + y + 1.5z -100

Number of individual items that should be sold to maximize the profit are

Lemonade - 200

Coke - 300

Small coke bottles - 400

Solver Solution x y z Total Demand Decision Variables 200 300 400 Cost 0.5 1 1.5 900 Constraint 1 1 0 0 200 100 Constraint 2 0 1 0 300 200 Constraint 3 1 0 0 200 200 Constraint 4 0 1 0 300 300 Constraint 5 0 0 1 400 400

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