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asap thanks Problem 2 (50 pts) A company needs to supply two items to a customer. Due to limited time, the company may have a
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Problem 2 (50 pts) A company needs to supply two items to a customer. Due to limited time, the company may have a maximum of three production runs. Each production run may produce several items. The number of items to be produced in each production run is the lot size. Inspection at the end of each production run determines whether each item is acceptable. An item is acceptable with a probability of 0.8 . In each production run, the setup cost is $300 and production cost per item is $100. The lost sales are $1600 per item. If only one acceptable item is produced after three production runs, the company loses $1600. If no acceptable item is produced after three production runs, the company loses $3200. Please use dynamic programming to find the optimal production policy that minimizes the expected total cost Step by Step Solution
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