Problem 2. A company that produces instant mashed potatoes must meet demand for the next four months (shown in the table below). The company can produce up to 750 lbs. of potatoes with its usual labor per month. The company can also hire additional labor for a month at a time to increase its production capacity for that month; each unit of additional labor increases capacity by 50 lbs (fractional units are permitted). The company can store potatoes that it has produced across months. If the company stores less than 400 lbs. of pota- toes, then the holding cost is equal to $5 per lb. of potatoes per month stored. For each lb. of potatoes above 400, an additional cost of $1.50 per lb. per month is applied for the extra storage space needed. Formulate an LP to satisfy demand in the next four months at the minimum cost. Demand in lbs. Cost per unit extra labor Month 1 | Month 2 | Month 3 Month 4 1000 $1200 700 800 1500 $1000 $1200 $1000

Problem 2. A company that produces instant mashed potatoes must meet demand for the next four months (shown in the table below). The company can produce up to 750 lbs. of potatoes with its usual labor per month. The company can also hire additional labor for a month at a time to increase its production capacity for that month; each unit of additional labor increases capacity by 50 lbs (fractional units are permitted). The company can store potatoes that it has produced across months. If the company stores less than 400 lbs. of pota- toes, then the holding cost is equal to $5 per lb. of potatoes per month stored. For each lb. of potatoes above 400, an additional cost of $1.50 per lb. per month is applied for the extra storage space needed. Formulate an LP to satisfy demand in the next four months at the minimum cost. Demand in lbs. Cost per unit extra labor Month 1 | Month 2 | Month 3 Month 4 1000 $1200 700 800 1500 $1000 $1200 $1000

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter6: Optimization Models With Integer Variables

Section6.4: Fixed-cost Models

Problem 14P

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