Determine how many students to employ so that total costs

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A manager for a warehouse must determine how many students to employ so that total costs are minimized. Forecasted demand for these workers for the next six weeks is 9, 14, 16, 12, 11, 14. Each student can work a maximum of 15 hours per week. Currently there are 11 students employed. No backorders are allowed. The most overtime a student can work is 4 hours per week (20% greater than their normal work week). Students are paid $1,500 per week (for 15 hours). Overtime is paid at 150% of the regular rate. To hire a student is $800 and to lay off, the cost is $400. Use a chase strategy to come up with the total cost as it pertains to using the students.

Reference no: EM131793808

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