A firm is planning to produce 3 products P1, P2, and P3 over a time horizon of 4 months (January to April). Demand for the products over the months is as follows: Demand P1 January 5300 4500 4400 February 1200 5400 6700 March April 7400 5300 6500 7200 1250013200 P2 P3 Sales prices, production costs, production quotas, and setup costs are: P1 Product Sales price Setup cost Production cost Daily production quota $124 $150,000 $73 P2 $109 $150,000 $52 450 P3 $115 $100,000 $65 550 500 There are 23 production days in January, 20 in February, 23 in March and 22 in April. The setup of a production line can be changed every month. Moreover, storage space can be rented at monthly rates of $3.50 per unit for P1, $4.00 per unit for P2, and $3.00 per unit for P3. Each product takes the same amount of storage space. The total available storage space can accommodate up to 1200 units. Formulate a mixed-integer program (MIP) to maximize the profit. Use Microsoft Excel Solver to solve your MIP formulation. Submit your Excel file as well as a report (PDF or MS Word document) describing the LP formulation, the optimal solution, and the optimal objective value found. A firm is planning to produce 3 products P1, P2, and P3 over a time horizon of 4 months (January to April). Demand for the products over the months is as follows: Demand P1 January 5300 4500 4400 February 1200 5400 6700 March April 7400 5300 6500 7200 1250013200 P2 P3 Sales prices, production costs, production quotas, and setup costs are: P1 Product Sales price Setup cost Production cost Daily production quota $124 $150,000 $73 P2 $109 $150,000 $52 450 P3 $115 $100,000 $65 550 500 There are 23 production days in January, 20 in February, 23 in March and 22 in April. The setup of a production line can be changed every month. Moreover, storage space can be rented at monthly rates of $3.50 per unit for P1, $4.00 per unit for P2, and $3.00 per unit for P3. Each product takes the same amount of storage space. The total available storage space can accommodate up to 1200 units. Formulate a mixed-integer program (MIP) to maximize the profit. Use Microsoft Excel Solver to solve your MIP formulation. Submit your Excel file as well as a report (PDF or MS Word document) describing the LP formulation, the optimal solution, and the optimal objective value found