QUESTION 1:

Please develop the optimum dynamic programming solution for a problem covering 3 months of operation. The data for the problem are presented in the table below. Note that the beginning inventory in January is one unit. What is the second best solution for the same? (Chapter 18_ Dynamic Programming_ An Introduction to Management Science 10E by Anderson_Sweeney and Williams , pg. 822)

TABLE 18.3 PRODUCTION AND INVENTORY CONTROL PROBLEM DATA Capacity Cost per Unit Month Demand Production Storage Production Holding January $175 $30 February NON W W N WNW 150 30 March 200 40 The beginning inventory for January is one unit