This is question 24 under section 3.5. It is missing Mr. Meadows Cookie Company makes a variety of chocolate chip cookies in the plant in Albion, Michigan. Based on orders received and forecasts of buying habits, it is estimated that the demand for the next four months is 850, 1,260, 510, and 980, expressed in thousands of cookies. During a 46-day period when there were 120 workers, the company produced 1.7 million cookies. Assume that the number of workdays over the four months are respectively 26, 24, 20, and 16. There are currently 100 workers employed, and there is no starting inventory of cookies. a.What is the minimum constant workforce required to meet demand over the next four months? b.Assume that inventory cost is 10 cents per cookie per month; hiring cost is $1000 per worker, and firing cost is $2000 per worker, payroll cost is $75 per day per worker. Evaluate the cost of the plan derived in part (a). c. Formulate as a linear programming problem. Be sure to define all variables and include the required constraints. d. Solve the linear programming problem using MATLAB. What’s the optimal plan to minimize the total cost?

This is question 24 under section 3.5. It is missing Mr. Meadows Cookie Company makes a variety of chocolate chip cookies in the plant in Albion, Michigan. Based on orders received and forecasts of buying habits, it is estimated that the demand for the next four months is 850, 1,260, 510, and 980, expressed in thousands of cookies. During a 46-day period when there were 120 workers, the company produced 1.7 million cookies. Assume that the number of workdays over the four months are respectively 26, 24, 20, and 16. There are currently 100 workers employed, and there is no starting inventory of cookies. a.What is the minimum constant workforce required to meet demand over the next four months? b.Assume that inventory cost is 10 cents per cookie per month; hiring cost is $1000 per worker, and firing cost is $2000 per worker, payroll cost is $75 per day per worker. Evaluate the cost of the plan derived in part (a). c. Formulate as a linear programming problem. Be sure to define all variables and include the required constraints. d. Solve the linear programming problem using MATLAB. What’s the optimal plan to minimize the total cost?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section7.3: Pricing Models

Problem 1P

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This is question 24 under section 3.5. It is missing

Mr. Meadows Cookie Company makes a variety of chocolate chip cookies in the plant in Albion, Michigan. Based on orders received and forecasts of buying habits, it is estimated that the demand for the next four months is 850, 1,260, 510, and 980, expressed in thousands of cookies. During a 46-day period when there were 120 workers, the company produced 1.7 million cookies. Assume that the number of workdays over the four months are respectively 26, 24, 20, and 16. There are currently 100 workers employed, and there is no starting inventory of cookies.

a.What is the minimum constant workforce required to meet demand over the next four months?

b.Assume that inventory cost is 10 cents per cookie per month; hiring cost is $1000 per worker, and firing cost is $2000 per worker, payroll cost is $75 per day per worker. Evaluate the cost of the plan derived in part (a).

c. Formulate as a linear programming problem. Be sure to define all variables and include the required constraints.

d. Solve the linear programming problem using MATLAB. What’s the optimal plan to minimize the total cost?

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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