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Determining Optimal Solutions and Optimal Product Mixes

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Problem requires solving OPTIMAL SOLUTIONS based on ensuring minimum nutrient standards are being met, and that the cost can be less than what they are currently paying for the product. Problem (Part 1) includes suggesting a mixture of two (2) products, which creates the problem that requires computing an optimal solution that complies with three (3) conditions (listed in the attached problem).

Determine: (Part 2) Whether or not the optimal product mix would change if the cost of portions of the product increased and (Part 3) if cost of one product increased and the other product decreased. Would they?

Solving: Requesting that solutions using solver in excel along with explanations to give guidance that I can trace for the elements of the solver that will explain solutions for the 5 parts of this problem. All attachments in excel required.

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Solution Summary

This solution helps determine optimal solutions and optimal product mixes.

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Please see the attached file -- it has 3 sheets (sheet 1 has parts 1 through 3 and parts 4 and 5 on separate sheets)

Textfood Caltrain
Cost per 2 Oz $0.60 $0.50
% of Vitamin A 20% 50%
% ...

Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
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