Question: 3. (A dynamic single-item lot sizing problem) We consider the production of a single product over T periods. If we decide to produce at period

3. (A dynamic single-item lot sizing problem) We

3. (A dynamic single-item lot sizing problem) We consider the production of a single product over T periods. If we decide to produce at period t, a setup cost ct is incurred. For t = 1, ..., T, let d be the demand for this product in period t, and let pt, ht be the unit production cost and unit inventory cost (per period), respectively. The inventory at the end of period t incurs unit inventory cost ht. Assume that production can be done at the beginning of each period and the initial inventory is 0. Formulate an integer programming problem in order to minimize the total cost of production, storage, and setup

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