Not use ai please During the next four months, a customer requires, respectively, 500, 650, 1000, and 700 units of a commodity, and nobacklogging is allowed (that is, the customer's requirements must be met on time). Production costs are $50, $80, $40,and $70 per unit during these months. The storage cost from one month to the next is $20 per unit (assessed on endinginventory). It is estimated that each unit on hand at the end of month 4 can be sold for $60. Assume there is nobeginning inventory.Determine how to minimize the net cost incurred in meeting the demands for the next four months.Question #1: According to your optimal solution, what is the production quantity for month 3?Question #2: According to your optimal solution, what is the total cost?(Please show all the fields input, and the solver box so I can see which cells you chose, etc.)

This is a typical linear programming (LP) problem where the objective is to minimize the total cost,…

Answered: During the next four months, a customer…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter11: Simulation Models

Section: Chapter Questions

Problem 47P

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