Unformatted text preview: period 1 - $13; period 2 - $14; period 3 - $15. A holding cost of $2 per unit is assessed against each period’s ending inventory. At the beginning of period 1, the company has 5 units on hand. In reality, not all goods produced during a month can be used to meet the current month’s demand. To model this fact, we assume that only one half of the goods produced during a period can be used to meet the current period’s demands. Formulate an LP to minimize the cost of meeting the demand for the next three periods. Convert the following LP into standard form: 3. min 3 x 1 + x 2 s.t. x 1-2 x 2 ≥ 1 4 x 1 + x 2 ≤ 10 x 1 ≥ 1...
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- Spring '07
- Optimization, Period, Discussion Section Handout, Linear Programming Spring