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Give typed solution and full explanation 2. Gursoy Gloves forecasts the following demand for each of the next six months: month 1 - 5,000 pairs,
Give typed solution and full explanation
2. Gursoy Gloves forecasts the following demand for each of the next six months: month 1 - 5,000 pairs, month 2 - 6,000 pairs, month 3 - 5,000 pairs, month 4 - 9,000 pairs, month 5 - 6,000 pairs, month 6 - 5,000 pairs. It takes a glove maker 15 min. to produce one pair of gloves. Each worker works 150 hours per month and is paid $2,000 per month. At the beginning of each month, the company can hire or fire workers. It costs the company $1,500 to hire a new worker and $1,900 to fire a worker. The monthly holding cost per pair of gloves is 3% of the cost of producing a pair of gloves. The raw materials in a pair of gloves cost $4. Formulate an LP that minimizes the cost of meeting demands on time. At the beginning of month 1, the company has 10 workersStep by Step Solution
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