Problem:
HiTech Metal Company is developing a plan for buying scrap metal for its operations. HiTech receives scrap metal from three sources, Hasbeen Industries, Gentro Scrap, and EarthWorks in daily shipments using large trucks. Each truckload of scrap from Hasbeen yields 2 tons of zinc and 1 ton of lead at a cost of $15K. Each truckload of scrap from Gentro yields 1 ton of zinc and 3 tons of lead at a cost of $12K. Finally, each truckload of scrap from EarthWorks yields 3 tons of zinc and 2 tons of lead at a cost of $10K. HiTech r equires at least 10 tons of zinc and 10 tons of lead per day. How many truckloads of scrap should be purchased per day from each source in order to minimize scrap metal costs to HiTech? What is the corresponding minimum cost per day? To answer these questions:
Required:
Question 1) Clearly define your decision variables.
Question 2) Write down the full integer-linear programming model. Underneath your mathematical optimization model,briefly explain the objective function and constraints, in words.
Question 3) Briefly, articulate your optimal solutions with minimal technical terms.
Provide thorough explanation of the given question.