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 7,000 bottles and is estimated to increase by nine 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 17 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 spand $ on advertising for Summer Passion and $ on advertising for Ocean Breeze. The net profit is $ [] (Round to two decimal places as needed.)

Z8CZB8 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 nine 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 17 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 spand $ on advertising for Summer Passion and $ on 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 nine 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 17 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 spand $ on advertising for Summer Passion and $ on advertising for Ocean Breeze. The net profit is $ [] (Round to two decimal places as needed.)
See Answer
Add Answer +20 Points
Community Answer
QLL49I The First Answerer
See all the answers with 1 Unlock
Get 4 Free Unlocks by registration

Respectfully, student Here is your answer : If you have any more doubts, pls let me know in the comments. And YOUR ONE LIKE CAN REALLY HELP ME, SO Please LIKE! Solution- 1) Assume "x" is the number of summer passions and "y" is the amount of ocean breeze produced. Cost calculations: Summer Passion fragrance purchase cost = $5.25x The cost of purchasing ocean breeze scent is $4.70y. As a result, the overall fragrance cost is 5.25x+4.70y. Revenue = sale price per unit multiplied by number of units = $42x+$30y After acquiring the scent, the amount available for advertising is 100,000 - (5.25x+4.70y). Thus, the linear equation for maximising net profit = revenue - fragrance cost - advertising cost Substituting, N ... See the full answer