Hello,

Please solve the following. It would be very helpful for me if you showed excel formulas + Solver. The entire problem is shown below.

Thank you!

ngrigzn ggrmrgtign The Harrison Corporation has determined that it will not have enough company-owned warehouse spaoe to cover its needs for the rst eight months of next year. The additional warehouse requirements by month are given in Table 1. Table 1. Additional space requirements in 1000 square feet Mo nth January February March April May June July August Space 24 28 31 2t! 27 25 34 2t! To cover its warehouse space shortfall, the rm plans to lease additional space on a short-term basis. Over the next eight months, a local warehouse has agreed to lease any amount of space for any number of months space to Harrison according to the following cost schedule. Table 2. Cost of lease Length of lease (in months} 1 2 3 4 5 6 Cost Per 1000 o 7 0 1,1 1, 1,3 0 2,1 square feet 540 5 8 5 40 S 430 S D 5 00 Create a Solver-based spreadsheet model to determine the amount of space to lease and the length of lease for each month in order to minimize the total lease cost and solve the model. Comments and Hints: The key here is the specication and arrangement of changing and the formulas for the space made available through the leases. The graphic below is provided to help you start this problem and to test your understanding and your calculation of the space scheduled. To test your calculations. start by assigning a value of 1 for each decision cell. In total, there are 33 changing oells. These cells represent how much space (in 1000 square feet] should be leased in each month and the length of the lease. For example. a value of 1 with respect to January and 1 month would imply that you begin a 1 month lease starting in January. A value of 1 with respect to the combination ofJanuary and 2 month would imply that you begin a 2 month lease starting in January. A H Length of lease (in Months) Space Scheduled WN d January 6 February 11 March 15 Apri 17 May 17 June 15 July X 11 August 6 When you enter the decision cells into Solver, you should select an individual row or column by holding down Control. Keep holding down control as you select additional rows or columns until you have selected all rows or columns. When entering named ranges, please use named ranges that represent either the individual months