Ali makes his living buying and selling corn. On January 1, he has 50 tons of corn and 1000 TL. On the first day of each month Ali can buy corn at the following prices per ton. January: 300 TL, February: 350 TL, March: 400 TL, April: 500 TL. On the last day of each month Ali can sell corn at the following prices per ton: January: 250 TL, February: 400 TL, March: 350 TL, April: 550 TL. Ali stores his corn in a warehouse that can hold at most 1100 tons of corn. He must be able to pay cash for all corn at the time of purchase. a) Use linear programming to model how Ali can maximize his cash on hand at the end of April.
Ali makes his living buying and selling corn. On January 1, he has 50 tons of corn and 1000 TL. On the first day of each month Ali can buy corn at the following prices per ton. January: 300 TL, February: 350 TL, March: 400 TL, April: 500 TL. On the last day of each month Ali can sell corn at the following prices per ton: January: 250 TL, February: 400 TL, March: 350 TL, April: 550 TL. Ali stores his corn in a warehouse that can hold at most 1100 tons of corn. He must be able to pay cash for all corn at the time of purchase. a) Use linear programming to model how Ali can maximize his cash on hand at the end of April.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Ali makes his living buying and selling corn. On January 1, he has 50 tons of corn and 1000 TL. On the first day of each month Ali can buy corn at the following prices per ton. January: 300 TL, February: 350 TL, March: 400 TL, April: 500 TL. On the last day of each month Ali can sell corn at the following prices per ton: January: 250 TL, February: 400 TL, March: 350 TL, April: 550 TL. Ali stores his corn in a warehouse that can hold at most 1100 tons of corn. He must be able to pay cash for all corn at the time of purchase.
a) Use linear programming to model how Ali can maximize his cash on hand at the end of April.
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