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You own a wheat warehouse with a capacity of 20,000 bushels. At the beginning of month 1, you have 6000 bushels of wheat. Each month, wheat can be bought and sold at the prices per 1000 bushels shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. .

You own a wheat warehouse with a capacity of 20,000 bushels. At the beginning of month 1, you have 6000 bushels of wheat. Each month, wheat can be bought and sold at the prices per 1000 bushels shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. .

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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Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Selling Purchase Price Price $3 $6 $7 $1 $4 $5 $5 $1 $3 $2 $8 $8 $2 $3 $4 $3 $3 $2 $5 $5 You own a wheat warehouse with a capacity of 20,000 bushels. At the beginning of month 1, you have 6000 bushels of wheat. Each month, wheat can be bought and sold at the prices per 1000 bushels 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 buy as much wheat as you want, subject to the warehouse size limitation. Determine how to maximize the profit earned over the next 10 months.
Transcribed Image Text:Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Selling Purchase Price Price $3 $6 $7 $1 $4 $5 $5 $1 $3 $2 $8 $8 $2 $3 $4 $3 $3 $2 $5 $5 You own a wheat warehouse with a capacity of 20,000 bushels. At the beginning of month 1, you have 6000 bushels of wheat. Each month, wheat can be bought and sold at the prices per 1000 bushels 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 buy as much wheat as you want, subject to the warehouse size limitation. Determine how to maximize the profit earned over the next 10 months.
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