Carter Enterprises is a soybean trading company. Once a month a representative attends a commodity sale...

 

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Carter Enterprises is a soybean trading company. Once a month a representative attends a commodity sale where he either buys or sells soybeans in bulk. Carter uses a local warehouse for storing soybean inventory. The warehouse charges $10 per average ton stored per month (based on the average of beginning and ending inventory each month). Carter can store up to 400 tons in any given month in the warehouse. Over the next six months, Carter forecasters have forecasted the following soybean prices: Month Price ($/Ton) 1 2 135 110 3 150 4 5 6 175 130 145 Assume Carter currently has 70 tons stored in the warehouse. Formulate a linear programming model that tells Carter how many tons to buy and sell each month to maximize profit. Carter Enterprises is a soybean trading company. Once a month a representative attends a commodity sale where he either buys or sells soybeans in bulk. Carter uses a local warehouse for storing soybean inventory. The warehouse charges $10 per average ton stored per month (based on the average of beginning and ending inventory each month). Carter can store up to 400 tons in any given month in the warehouse. Over the next six months, Carter forecasters have forecasted the following soybean prices: Month Price ($/Ton) 1 2 135 110 3 150 4 5 6 175 130 145 Assume Carter currently has 70 tons stored in the warehouse. Formulate a linear programming model that tells Carter how many tons to buy and sell each month to maximize profit.

Answer rating: 100% (QA)

Objective Function Maximize Profit SumPrice Quantity Bought ... View the full answer