These answers are CORRECT. Please explain each part and show calculations for each number found in solution.

4. A school is planning for its advising needs for the next three months. For each month, the forecasted number of students who need advising is given. a. How many advisors are needed for each month? b. If the school currently has 20 advisors and wants to have the same number of workers in each month, how many advisors will it need to ensure that all students receive advising based on the forecasts? c. Suppose they currently have 20 advisors, and it costs $500 to hire an advisor and $1200 to fire an advisor. What is the hiring plus firing cost associated with a chase strategy that most closely matches the number of advisors to the advising needs without denying any student advising, based on the forecasts? d. Suppose they do not wish to fire anybody, and that an idle advisor in any month is equivalent to a cost of $ X. What value of X would make them indifferent between the cost of the chase strategy in part c and a strategy that hires advisors as needed in order to ensure that no student is denied advising, but never fires anybody? Solution: a. The required number of advisors in each month equals 16,36 , and 17 (take the sum within each month weighted by the advisors needed per student and round up). b. They will need to hire 16 for the peak in August. c. They can fire 4 for July, then hire 20 for August, then fire 19 for September. The total hiring and firing cost equals $37,600. d. They will need to hire 16 in August, which costs $8000. The number of idle advisors in July will be 4 and the number in September will be 19, for a total of 23 idle advisor-months. So the total cost will equal 23X+8000. Setting this equal to the cost of the chase strategy gives 23X+8000 =37600, or X=1286.96