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A company will manufacture a product for the next four months: March, April, May, and June. The demands for each month are 5 2 0
A company will manufacture a product for the next four months: March, April, May, and June. The demands for each month are and units, respectively. The company has a steady workforce of employees but can meet fluctuating production needs by hiring and firing in any month are $ and $ per worker,
respectively. A permanent worker can produce units per month, and a temporary worker, lacking comparable experience, only produce units per month. The company can produce more than needed in any month and carry the surplus over to a succeeding month at a holding cost of $ per unit per month. Develop an optimal
hiringfiring policy for the company over the fourmonth planning horizon.
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