Based on Heady and Egbert (1964). Walnut Orchard has two farms that grow wheat and corn. Because of differing soil conditions, there are differences in the yields and costs of growing crops on the two farms. The yields and costs are listed in the file P04_67.xlsx. Each farm has 100 acres available for cultivation; 11,000 bushels of wheat and 7000 bushels of corn must be grown.
a. Determine a planting plan that will minimize the cost of meeting these requirements.
b. Use SolverTable to see how the total cost changes if the requirements for wheat and corn both change by the same percentage, where this percentage change can be as low as –50% or as high as +50%.
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