Question: Please use Excel. The problem needs to be solved by linear programming. You own a wheat warehouse with a capacity of 20,000 bushels. At the
Please use Excel. The problem needs to be solved by linear programming.
You own a wheat warehouse with a capacity of 20,000 bushels. At the beginning of month 1 , you have 6000 bushels of wheat. Each month, wheat can be bought and sold at the prices per 1000 bushels shown in the above table. The sequence of events during each month is as follows: - You observe your initial stock of wheat. - You can sell any amount of wheat up to your initial stock at the current month's selling price. - You can buy as much wheat as you want, subject to the warehouse size limitation. Determine how to maximize the profit earned over the next 10 months. You own a wheat warehouse with a capacity of 20,000 bushels. At the beginning of month 1 , you have 6000 bushels of wheat. Each month, wheat can be bought and sold at the prices per 1000 bushels shown in the above table. The sequence of events during each month is as follows: - You observe your initial stock of wheat. - You can sell any amount of wheat up to your initial stock at the current month's selling price. - You can buy as much wheat as you want, subject to the warehouse size limitation. Determine how to maximize the profit earned over the next 10 months
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
