Question

My Family is going to buy 2 types of pears. Golden, and dwarf. Family Members like each at different levels on a scale of ten. The pears have different costs and you have a budget of 20$. None of the pears should be 50% of the total and none of them should be less than 5%. How many lbs of each should be purchased to minimize cost or to maximize liking. Use Excel Solver.

Answer 1

To minimize cost or maximize liking while buying 2 types of pears within a budget using Excel Solver, follow these steps: list the variables, set up the objective function, set up the constraints, add Solver to Excel, and run Solver to find the optimal solution.

Step-by-step explanation:

To find the amount of each type of pear to minimize cost or maximize liking, we can use Excel Solver. Here are the steps:

1. List the variables: Let x be the pounds of Golden pears and y be the pounds of dwarf pears.
2. Set up the objective function: If the goal is to minimize cost, the objective function would be the total cost, which can be expressed as: Cost = 3x + 2y (assuming the cost of Golden pears is $3 per pound and the cost of dwarf pears is $2 per pound).
3. Set up the constraints:

• x + y ≤ 20 (budget constraint)
• 0.05x ≤ y ≤ 0.5x (none of the pears should be less than 5% or 50% of the total)

Add Solver to Excel: Go to the 'Data' tab, click on 'Solver' and set up the Solver parameters, specifying the objective function, constraints, and variable cells. Set the Solver to find the optimal solution by minimizing the objective function or maximizing liking.Run Solver: Click on 'Solve' and let Excel Solver find the optimal solution.