Question: 9 points QUESTION 23 1. Consider a company producing a single product. Using a smoothing method, the company forecasted their future demand for the next

9 points QUESTION 23 1. Consider a company

9 points QUESTION 23 1. Consider a company producing a single product. Using a smoothing method, the company forecasted their future demand for the next three months in 2021 as follows. Month Demand July 982 August 1002 September 1022 In terms of production capacity, the company has a regular time capacity of 750 units/month and an overtime capacity of 270 units/month. The cost of regular time production is $15/unit and the cost of over time production is $25/unit. The company can carry inventory to the next month and the holding cost is $4/unit/month. The demand has to be met every month. Model this problem to develop the optimal production plan for the next three months that minimizes the overall cost for production and inventory management. What is the decision variables, objective, and constraints? You must describe your mathematical model in detail (20pts)

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