You own wheat warehouse with capacity of 20,000 bushels. At the beginning of month 1, you have 6,000 bushels of wheat. Each month, wheat can be bought and sold at the price per 1000 bushels given in the table Month Selling price ($) Purchase prie ($) 1 3 8 2 6 8 3 7 2 4 1 3 5 4 4 6 5 3 7 5 3 8 1 2 9 3 5 10 2 5
You own wheat warehouse with capacity of 20,000 bushels. At the beginning of month 1, you have 6,000 bushels of wheat. Each month, wheat can be bought and sold at the price per 1000 bushels given in the table
| Month | Selling price ($) | Purchase prie ($) |
| 1 | 3 | 8 |
| 2 | 6 | 8 |
| 3 | 7 | 2 |
| 4 | 1 | 3 |
| 5 | 4 | 4 |
| 6 | 5 | 3 |
| 7 | 5 | 3 |
| 8 | 1 | 2 |
| 9 | 3 | 5 |
| 10 | 2 | 5 |
The sequence of events during each month is as follows:
a. You observe your initial stock of wheat.
b. You can sell any amount of wheat up to your initial stock at the current month's selling price.
c. You can buy(at the current month's buying price) as much wheat as you want, subject to the warehouse size imitation.
Your goal is to formulate an LP that can be used to determine how to maximise the profit earned over the next 10 months and solve using Excel solver or AMPL
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