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Problem: Pear produces low-budget cars. Each car is sold for $7900. The raw materials in a car costs $5000. Labor time and robot time are both needed to produce cars. A worker can do the needed labor

Problem: Pear produces low-budget cars. Each car is sold for $7900. The raw materials in a car costs $5000. Labor time and robot time are both needed to produce cars. A worker can do the needed labor

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Problem: Pear produces low-budget cars. Each car is sold for $7900. The raw materials in a car costs $5000. Labor time and robot time are both needed to produce cars. A worker can do the needed labor on, at most, 100 cars per month; a robot can complete the needed work on, at most 200 cars per month. Initially, Pear has 4 workers. Each worker receives a monthly salary of $6000. It costs $2500 to hire a worker and $1000 to fire a worker. Robots must be bought at the beginning of month 1 at a cost of $15,000 per robot. The (assumed known) demand for cars is listed in the file. At the end of each month, Pear incurs a holding cost of $200 per car. How can Pear maximize the profit earned during next 6 months? Formulate a model separate from Excel. Then use Excel Solver and solve the model. Attach a clean spreadsheet of Solver. Budget Auto data Month Demand 1 400 2 500 3 600 4 800 5 700 6 600
Transcribed Image Text:Problem: Pear produces low-budget cars. Each car is sold for $7900. The raw materials in a car costs $5000. Labor time and robot time are both needed to produce cars. A worker can do the needed labor on, at most, 100 cars per month; a robot can complete the needed work on, at most 200 cars per month. Initially, Pear has 4 workers. Each worker receives a monthly salary of $6000. It costs $2500 to hire a worker and $1000 to fire a worker. Robots must be bought at the beginning of month 1 at a cost of $15,000 per robot. The (assumed known) demand for cars is listed in the file. At the end of each month, Pear incurs a holding cost of $200 per car. How can Pear maximize the profit earned during next 6 months? Formulate a model separate from Excel. Then use Excel Solver and solve the model. Attach a clean spreadsheet of Solver. Budget Auto data Month Demand 1 400 2 500 3 600 4 800 5 700 6 600
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