Question Details

(solution) During the next three months, Steelco faces the following demands for steel: 100 tons (month 1);...


During the next three months, Steelco faces the following demands for steel: 100 tons (month 1); 200 tons (month 2); 50 tons (month 3). During any month, a worker can produce up to 15 tons of steel. Each worker is paid $5,000 per month. Workers can be hired or fired at a cost of $3,000 per worker fired and $4,000 per worker hired (it takes 0 time to hire a worker). The cost of holding a ton of steel in inventory for one month is $100. Demand may be backlogged at a cost of $70 per ton month. That is, if 1 ton of month 1 demand is met during month 3, then a backlogging cost of $140 is incurred. At the beginning of month 1, Steelco has 8 workers. During any month, at most 2 workers can be hired. All demand must be met by the end of month 3. The raw material used to produce a ton of steel costs $300. Formulate an LP to minimize Steelco’s costs.

 


Solution details:

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 13, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.

Order Now