Shoemakers of America forecasts the following demandfor each of the next six months: month 1—5,000 pairs;month 2—6,000 pairs; month 3—5,000 pairs; month 4—9,000 pairs; month 5—6,000 pairs; month 6—5,000 pairs. Ittakes a shoemaker 15 minutes to produce a pair of shoes.Each shoemaker works 150 hours per month plus up to 40hours per month of overtime. A shoemaker is paid a regularsalary of $2,000 per month plus $50 per hour for overtime.At the beginning of each month, Shoemakers can either hireor fire workers. It costs the company $1,500 to hire a workerand $1,900 to fire a worker. The monthly holding cost perpair of shoes is 3% of the cost of producing a pair of shoeswith regular-time labor. (The raw materials in a pair of shoescost $10.) Formulate an LP that minimizes the cost of At the conclusion of the season, this method has beenused to determine ratings for college football and collegebasketball. What problems could be foreseen if this methodwere used to rate teams early in the season?
Shoemakers of America
for each of the next six months: month 1—5,000 pairs;
month 2—6,000 pairs; month 3—5,000 pairs; month 4—
9,000 pairs; month 5—6,000 pairs; month 6—5,000 pairs. It
takes a shoemaker 15 minutes to produce a pair of shoes.
Each shoemaker works 150 hours per month plus up to 40
hours per month of overtime. A shoemaker is paid a regular
salary of $2,000 per month plus $50 per hour for overtime.
At the beginning of each month, Shoemakers can either hire
or fire workers. It costs the company $1,500 to hire a worker
and $1,900 to fire a worker. The monthly holding cost per
pair of shoes is 3% of the cost of producing a pair of shoes
with regular-time labor. (The raw materials in a pair of shoes
cost $10.) Formulate an LP that minimizes the cost of At the conclusion of the season, this method has been
used to determine ratings for college football and college
basketball. What problems could be foreseen if this method
were used to rate teams early in the season?
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