USE EXCEL AND SHOW FORMULAS WITH SOLVER

A Gold Company produces platinum ore at four different mines. The ores extracted at each mine are different in their platinum content. Mine 1 produces iron ore, which has a 40% platinum content; mine 2 produces nickel ore, which has a 30% platinum content; mine 3 produces silver ore, which has a 60% platinum content; and mine 4 produces tin ore, which has only a 20% platinum content. The Barrie Gold Company has three customers that jewelryRolex, Movado, and Armani. Rolex needs 600 tons of pure (100%) platinum, Movado requires 300 tons of pure platinum, and Movado requires 200 tons. It costs $37 to extract and process 1 ton of iron ore at mine 1, $46 to produce 1 ton of nickel ore at mine 2, $50 per ton of silver ore at mine 3, and $42 per ton of tin ore at mine 4. The Barrie Gold Company can extract 350 tons of ore at mine 1; 530 tons at mine 2; 610 tons at mine 3; and 490 tons at mine 4. The company wants to know how much ore to produce at each mine in order to minimize cost and meet its customers demand for pure (100%) platinum.

1. Formulate a linear programming model for this problem.