QUESTION 5 LA local firm is planning its workforce and production levels over the next year. The firm makes a variety of microprocessors and uses sales dollars as its aggregate production unit. Based on orders received and sales forecasts provided by the marketing department, the estimate of dollar sales for the next year by month is as follows: Predicted Predicted Demand Production Demand Production Month Days (in $10,000) | Month Days (in $10,000) January February 22 340 July August September 24 375 16 380 12 310 March 21 220 19 175 April May 19 100 October 22 145 23 490 November 20 120 June 20 625 December 16 165 Inventory holding costs are based on a 25% annual interest charge. It is anticipated that there will be 675 workers on the payroll at the end of the current year and inventories will amount to $120,000. The firm would like to have at least $100,000 of inventory at the end of December next year. It is estimated that each worker accounts for an average of $60,000 of production per year (assume that one year consists of 250 working days). The cost of hiring a new worker is $200, and the cost of laying off a worker is $400. a. Assuming that shortages are not allowed, determine the minimum constant workforce that the company will need over the next year. b. Evaluate the total cost of the constant workforce plan found in part (a). c. Formulate this problem as a linear program. d. Solve the problem. Round the variables in the resulting solution and determine the cost of the plan you obtain.