Question: Hello,I need help with the solver portion of this. I got the spreadsheet set up Homework 3 The Shop at Home Network sells various household

Hello,I need help with the solver portion of this. I got the spreadsheet set up

Hello,I need help with the solver portion of this. I got the

Homework 3 The Shop at Home Network sells various household goods during live television broadcasts. The company owns several warehouses to hold many of the goods it sells but also leases extra warehouse space when needed. During the next five months, the company expects it will need to lease the following amounts of extra warehouse space; Month 2 3 5 sqft Needed 20.000 30.000 40 000 35.000 50.000 At the beginning of any month, the company can lease extra space for one or more months at the following costs: Lease term (months) Cost per sqft $55 $95 $150 $155 $195 So, for instance, at the start of month I the company can lease as much space it wants for four months at a cost of $155 per sqft. Similarly. at the start of month 3, the company can lease any amount of space for two months at a cost of $95 per sqft. The company wants to determine the least costly way of meeting its warehousing needs over the coming five months. a. Formulate an LP model for this problem. (20 points) b. Create a spreadsheet model for this problem and solve it using Solver. (40 points) c. What is the optimal solution? (20 points) d. How much would it cost the company to meet its space needs if in each month it leases for one month exactly the amount of space required for the month? (20 points)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!