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2. Meredith Ribbon Company produces paper and fabric decorative ribbons that it sells to paper products companies and craft stores. The demand for ribbons is

image text in transcribed 2. Meredith Ribbon Company produces paper and fabric decorative ribbons that it sells to paper products companies and craft stores. The demand for ribbons is seasonal. In addition, information about projected demand and production for a particular type of ribbon is given. Let the beginning inventory of quarter 1=100. An inventory holding cost of $10 is levied on every yard of ribbon carried over from one quarter to the next. a) Define the decision variables. (3 points) b) Define the objective function (2 point) c) Define the constraints. (4 points)

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