Question: Develop the objective function and the constraint equations for the following aggregate output problem. Assume an eight-hour, twenty-day month. Person-hour demands for the next six
Develop the objective function and the constraint equations for the following aggregate output problem. Assume an eight-hour, twenty-day month. Person-hour demands for the next six months are 35000, 25000, 40000, 45000 and 30000. The costs are as follows: Inventory holding cost: $0.30/person-hours/month. Regular time payroll cost: $6/person-hour. Overtime payroll cost: $9/person-hour. Hiring cost: $300/worker. Layoff cost: $500/worker. The initial status consists of a workforce of 220 workers and a current inventory of 10000 person-hours
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