Question Solved1 Answer A cosmetics company has created two new perfumes: Summer Passion and Ocean Breeze. It costs $5.25 to purchase the fragrance needed for each bottle of Summer Passion and $4.70 for each bottle of Ocean Breeze. The marketing department has stated that at least 30% but no more than 70% of the product mix must be Summer Passion; the forecasted monthly demand is A cosmetics company has created two new perfumes: Summer Passion and Ocean Breeze. It costs $5.25 to purchase the fragrance needed for each bottle of Summer Passion and $4.70 for each bottle of Ocean Breeze. The marketing department has stated that at least 30% but no more than 70% of the product mix must be Summer Passion; the forecasted monthly demand is 7,000 bottles and is estimated to increase by six bottles for each $1 spent on advertising. For Ocean Breeze, the demand is forecast to be 12,000 bottles and is expected to increase by 14 bottles for each $1 spent on advertising. Summer Passion sells for $42.00 per bottle and Ocean Breeze for $30.00 per bottle. A monthly budget of $100,000 is available for both advertising and purchase of the fragrances. Complete parts a and b. a. Develop and solve a linear optimization model to determine how much of each type of perfume should be produced to maximize the net profit. Note that the amounts can be fractions of bottles. The cosmetics company should produce bottles of Summer Passion and bottles of Ocean Breeze, and should spend $ on advertising for Summer Passion and Son advertising for Ocean Breeze. The net profit is $ (Round to two decimal places as needed.)
AZZEQR The Asker · Probability and Statistics
Transcribed Image Text: A cosmetics company has created two new perfumes: Summer Passion and Ocean Breeze. It costs $5.25 to purchase the fragrance needed for each bottle of Summer Passion and $4.70 for each bottle of Ocean Breeze. The marketing department has stated that at least 30% but no more than 70% of the product mix must be Summer Passion; the forecasted monthly demand is 7,000 bottles and is estimated to increase by six bottles for each $1 spent on advertising. For Ocean Breeze, the demand is forecast to be 12,000 bottles and is expected to increase by 14 bottles for each $1 spent on advertising. Summer Passion sells for $42.00 per bottle and Ocean Breeze for $30.00 per bottle. A monthly budget of $100,000 is available for both advertising and purchase of the fragrances. Complete parts a and b. a. Develop and solve a linear optimization model to determine how much of each type of perfume should be produced to maximize the net profit. Note that the amounts can be fractions of bottles. The cosmetics company should produce bottles of Summer Passion and bottles of Ocean Breeze, and should spend $ on advertising for Summer Passion and Son advertising for Ocean Breeze. The net profit is $ (Round to two decimal places as needed.)
More Transcribed Image Text: A cosmetics company has created two new perfumes: Summer Passion and Ocean Breeze. It costs $5.25 to purchase the fragrance needed for each bottle of Summer Passion and $4.70 for each bottle of Ocean Breeze. The marketing department has stated that at least 30% but no more than 70% of the product mix must be Summer Passion; the forecasted monthly demand is 7,000 bottles and is estimated to increase by six bottles for each $1 spent on advertising. For Ocean Breeze, the demand is forecast to be 12,000 bottles and is expected to increase by 14 bottles for each $1 spent on advertising. Summer Passion sells for $42.00 per bottle and Ocean Breeze for $30.00 per bottle. A monthly budget of $100,000 is available for both advertising and purchase of the fragrances. Complete parts a and b. a. Develop and solve a linear optimization model to determine how much of each type of perfume should be produced to maximize the net profit. Note that the amounts can be fractions of bottles. The cosmetics company should produce bottles of Summer Passion and bottles of Ocean Breeze, and should spend $ on advertising for Summer Passion and Son advertising for Ocean Breeze. The net profit is $ (Round to two decimal places as needed.)
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Given Dota:-X - No. of Summer passiony - Ocean brecze producedfrogrance purchase cost of summer passion =$5.25 xFrogrance purchase costs of ocean brecze $$4^(@)70y^(@)Total Frogrance cost =5.25 x+4.70 yRevenae = Sole price per unite X No. of units=542 x+$30 yAmount available for advertising after purcharing the" frogrance "= ... See the full answer