Answer:
Let's define:
X = number of pounds of the brand 1 (price = $2.50 per pound)
Y = number of pounds of the brand 2 (price = $2.80 per pound)
We want to make a mix of 480 pounds, then:
X + Y = 480.
And we want the mean price to be $2.68, then:
(X*$2.50 + Y*$2.80)/480 = $2.68
Then we have a system of equations:
X + Y = 480
(X*$2.50 + Y*$2.80)/480 = $2.68
To solve this, the first step will be to isolate one variable in one of the equations, and then replace this in the other equation.
Let's isolate X in the first eq.
X = 480 - Y.
Now we can replace this in the other equation and get:
((480 - Y)*$2.50 + Y*$2.80)/480 = $2.68
Now let's solve this for Y.
((480 - Y)*$2.50 + Y*$2.80) = $2.68*480 = $1,286.40
$1,200 + Y*$0.30 = $1,286.40
y*$0.30 = $1,286.40 - $1,200 = $86.40
Y = $86.40/$0.30 = 288
Then:
X = 480 - Y = 480 - 288 = 192
Then the manager must use 192 pounds of the brand that costs $2.50 per pound, and 288 pounds of the brand that costs $2.80 per pound.