This is a conceptual question: give a narrative answer, and use general formulas for an appropriately chosen

model type, but without conducting calculations. If you have exam time left to develop a more detailed

model, then you can do that for bonus points depending on the quality of your work.

You work as a business analyst offering consulting services for a farm in the Midwest. The owner of the

farm, J$.$ L$.$ Oakwood $($JLO$)$ wants to decide on the best combination of four crops $$ wheat, cereal rye, corn,

and triticale $$ to plant in the next growing season. JLO has access to crop profit estimates $[$$$/$Acre$],$ under

three different weather conditions: wet, average, and dry. JLO can also estimate the probability distribution

of these weather conditions during the next growing season $($but without knowing which one will occur$).$

a$)$ JLO wants to maximize the expected profit of the farm in the next year, considering all revenues and

expenses. He knows the $($by assumption, deterministic$)$ amount of each crop needed for cattle feed. The

needed feed amounts can be either grown on the farm, or bought from other sources. The crop production

in excess of the feeding requirement is sold. JLO has estimates of the buying and selling prices.

Describe in a few sentences the decisions to make. Describe verbally the constraints and the objective

function. You can introduce symbols, and you can also use formulas based on the lectures or other relevant

resources available to you. Refer to all external sources used in your answer.

b$)$ How would you model and solve this problem, if instead of just three simplified weather conditions you

would have access to a more sophisticated weather model that gives the weekly simulation of sunshine

hours, precipitation, temperature, etc. over the growing season, knowing that some other factors $($the amount

of cattle feed required, selling and buying crop prices, etc.$)$ would also be somewhat uncertain?