(please provide an excel and word layout. to the "expert" who keeps answering this question providing answers poorly hand written on a paper please do not bother answering this post. third time I am posting this question due to the previous answers being almost unreadable and not in the desired format.)

QUESTION:

Renova company is a manufacturer of fancy bags in Melbourne. the demand for the next four months is forecasted as below:

month1	month2	month 3	month 4
3000	5000	2000	1000

500 bags are on hand at the beginning of month 1, and the company has 20 workers. the wage of a worker is $1500 per month. the standard working time for a worker is up to 160 hours per month before he or she receives overtime. the maximum overtime for a worker is 20 hours per month and is paid $13 per hour for overtime labour. it takes 4 hours of labour and $15 of raw material to make a bag. at the beginning of each month. workers can be hired or fined. each hired worker cost $1600, and each fired worker costs $2000. at the end of each month, a holding cost of $3 per bag left in inventory is incurred. production in a given month can be used to meet that month's demand. Renova wants to use LP to determine its optimal production schedule and labour policy.

1. develop a mathematical model.

develop a LP model that relates workforce and production decisions to monthly costs, and to find the minimum costs solution that needs forecast demands on time and stays within limits on overtime hours and production capacity. (6 marks- word document)

2. reproducing the model in excel and solving the problem. Formulating decision variables, objective function, and constraints in excel; setting the solver parameters; solving the problem' interpret the result and providing the schedule. (10 marks- excel document)

3. the company's CEO is asking your recommendation regarding the initial number of workers (currently 20). the CEO said, "there is an opportunity to begin the process by selecting any initial number of workers and the total cost (preferably by using a graph) and provide your recommendation regarding the best value or the best range of the initial number of workers. explain how changes in initial number of workers impact the total cost value. (4 marks)