Graded Assignment 1: Gold Mit Seals

There is a retailer called "The Coop", which carries a wide variety of products with MIT's name and logo: shirts, caps, keychains, pens... you name it! Anything from golf balls and teddy bears to pocket protectors and jewelry. With a store inside MIT's Student Center, and another one in the popular Kendall Square, across the street from MIT campus, The Coop is a favorite stop for casual MIT visitors, current students and their relatives, and nostalgic alumni.

The Coop carries a line of products that feature MIT's official seal cast in a jewelry-grade steel. The same seal (about the size of a coin) is used in multiple finished goods, such as necklaces, tie pins, cufflinks, and paperweights. The Coop is considering introducing in 2018 a new line of products featuring MIT's seal cast in 18 karat gold. These seals would be used in upscale jewelry, and as an ornament in the diploma frames that sell especially during commencement season.

Part 0

0 points possible (ungraded)

Based on their experience with similar products in the past, The Coop has projected the following demand for gold MIT seals for each month of 2018.

January	February	March	April
26	6	12	10

May	June	July	August
40	110	36	28

September	October	November	December
12	10	20	50

The setup cost is 823.5$ and the holding cost is 6.1$

What is the total cost (e.g. the sum of set-up costs and holding costs) of producing the gold seals using a Silver-Meal algorithm?

Part 8

0.0/1.0 point (graded)

What is the total cost (e.g. the sum of set-up costs and holding costs) of producing the gold seals using an optimal solution?

Enter your answer in dollars, without currency symbol, rounded to one decimal place. For example, if the cost is $1,234.56 then type 1234.6 as your answer.