Month Demand January 52,000 February 46,000 March 43,000 April 36,000 are currently forty employees working in the factory. Each employee can produce a maximum o and devices per month during regular-time production. If overtime is used, cach employee can pre um of five hundred devices per month. Each employee receives regular-time production pay of onth. Overtime-production costs the Company one and one-half times as much as regular-time pro er month. When demand falls, the Company lays off workers: when demand increases workers are - The cost to lay off each unnecessary employee is six hundred dollars, and the cost to hire cach ne er is four hundred dollars. Company firmly believes in having an inventory of price-marking devices, to avoid embarrassin Hy stock outs. Therefore the Company has a policy that at least ten thousand price-marking device eeld in inventory as Safety Stock each month. It costs the Company one dollar per price-marking is held in inventory per month, and the inventory level as of January 1st is ten thousand devices. mulate the Linear Programming Model for the above problem. Define the decision variables, writ jective Function, and write out the constraints - DO NOT SIMPLIFY e the following decision variables to formulate the problem: ecision Variables: Leti - 1 January), i -2 (February), i - 3 (March). i - 4 (April) number of price marking devices produced in Month i. where i = 1,2,3.4. number of workers hired in Month i where i 1.2.3.4. number of workers laid off in Month i where i = 1. 2. 3. 4. o 25 x 11 P F4 FS FU $ & % 5 4 6 7 8 Month Demand January 52,000 February 46,000 March 43,000 April 36,000 are currently forty employees working in the factory. Each employee can produce a maximum o and devices per month during regular-time production. If overtime is used, cach employee can pre um of five hundred devices per month. Each employee receives regular-time production pay of onth. Overtime-production costs the Company one and one-half times as much as regular-time pro er month. When demand falls, the Company lays off workers: when demand increases workers are - The cost to lay off each unnecessary employee is six hundred dollars, and the cost to hire cach ne er is four hundred dollars. Company firmly believes in having an inventory of price-marking devices, to avoid embarrassin Hy stock outs. Therefore the Company has a policy that at least ten thousand price-marking device eeld in inventory as Safety Stock each month. It costs the Company one dollar per price-marking is held in inventory per month, and the inventory level as of January 1st is ten thousand devices. mulate the Linear Programming Model for the above problem. Define the decision variables, writ jective Function, and write out the constraints - DO NOT SIMPLIFY e the following decision variables to formulate the problem: ecision Variables: Leti - 1 January), i -2 (February), i - 3 (March). i - 4 (April) number of price marking devices produced in Month i. where i = 1,2,3.4. number of workers hired in Month i where i 1.2.3.4. number of workers laid off in Month i where i = 1. 2. 3. 4. o 25 x 11 P F4 FS FU $ & % 5 4 6 7 8