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BOL Oil Company has decided to introduce three oil mixes made from blending two or more oils. One jar of olive-vegetable oil requires 6 oz
BOL Oil Company has decided to introduce three oil mixes made from blending two or more oils. One jar of olive-vegetable oil requires 6 oz each of olive and vegetable oils. One jar of vegetable-peanut oil requires 10 oz of vegetable oil and 6 oz of peanut oil. Finally, one jar of olive-vegetable-peanut oil requires 1 oz of olive oil, 7 oz of vegetable oil, and 3 oz of peanut oil. The company has decided to allot 16000 oz of olive oil, 24000 oz of vegetable oil, and 5000 oz of peanut oil for the initial production run. Its prot on one jar of olive-vegetable is $1.20, its prot on one jar of vegetable- peanut oil is $ 0.80, and its prot on one jar of olive-vegetable-peanut oil is $0.75. To realize a maximum prot, how many j ars of each blend should the company produce? a. Determine step by step the mathematical formulation based on the problem. b. Determine a maximum prot production plan assuming that everything produced can be sold and give a recommendation for Planning Department (use simplex method and software to solve the problem)
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