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You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought and sold at the prices per one bushel shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity Determine how to maximize the profit earned over the next 10 months.

You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought and sold at the prices per one bushel shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity Determine how to maximize the profit earned over the next 10 months.

Practical Management Science
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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You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought and sold at the prices per one bushel shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity Determine how to maximize the profit earned over the next 10 months.
• hift File Edit ●●● AutoSave OFF 1892 Home Insert Draw Page Layout - X Paste Text Box 1 A 1 2 3 Month 1 4 Month 2 5 Month 3 6 Month 4 7 Month 5 8 Month 6 9 Month 7 10 Month 8 11 Month 9 12 Month 10 13 14 15 16 17 23 24 25 26 tab 28 30 31 32 33 34 35 36 37 Excel 38 39 40 190 41 42 43 44 45 Ready esc caps lock Times New Roman BIU x✓ fx B с Selling Price Purchase $3 ** View Insert Format Tools Data Window Help 442HW1 (1) ► View Automate $6 $7 $1 $4 $5 $5 $1 $3 $2 $8 $8 $2 $3 $4 $3 $3 $2 $5 $5 HW1 Problem 1 ! 1 G D Q 18 19 20 You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, 21 wheat can be bought and sold at the prices per one bushel shown in the above table. 22 The sequence of events during each month is as follows: You observe your initial stock of wheat. Accessibility: Investigate You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity. Determine how to maximize the profit earned over the next 10 months. A Formulas 12+ A A V A N E Problem 2 + @ 2 B W F I S *** #3 Data 0 G U X Review E H ← D $ 4 I #tv %* Number R C % 5 J FL Conditional Formatting- Format as Table ✓ Cell Styles ✓ K A Developer >>> T V L 4 ^ MacBook Pro 6 G ⠀ M A Y B
Transcribed Image Text:• hift File Edit ●●● AutoSave OFF 1892 Home Insert Draw Page Layout - X Paste Text Box 1 A 1 2 3 Month 1 4 Month 2 5 Month 3 6 Month 4 7 Month 5 8 Month 6 9 Month 7 10 Month 8 11 Month 9 12 Month 10 13 14 15 16 17 23 24 25 26 tab 28 30 31 32 33 34 35 36 37 Excel 38 39 40 190 41 42 43 44 45 Ready esc caps lock Times New Roman BIU x✓ fx B с Selling Price Purchase $3 ** View Insert Format Tools Data Window Help 442HW1 (1) ► View Automate $6 $7 $1 $4 $5 $5 $1 $3 $2 $8 $8 $2 $3 $4 $3 $3 $2 $5 $5 HW1 Problem 1 ! 1 G D Q 18 19 20 You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, 21 wheat can be bought and sold at the prices per one bushel shown in the above table. 22 The sequence of events during each month is as follows: You observe your initial stock of wheat. Accessibility: Investigate You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity. Determine how to maximize the profit earned over the next 10 months. A Formulas 12+ A A V A N E Problem 2 + @ 2 B W F I S *** #3 Data 0 G U X Review E H ← D $ 4 I #tv %* Number R C % 5 J FL Conditional Formatting- Format as Table ✓ Cell Styles ✓ K A Developer >>> T V L 4 ^ MacBook Pro 6 G ⠀ M A Y B
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