Dynamic programming, With dynamic programming, formulate a

Dynamic programming

Reference no: EM13292672

A company needs the following number of workers during each of the next five years: year 1, 15; year 2, 30; year 3, 10; year 4, 30; year 5, 20. At present, the company has 20 workers. Each worker is paid $30,000 per year. At the beginning of each year, workers may be hired or fired. It costs $10,000 to hire a worker and $20,000 to fire a worker. A newly hired worker can be used to meet the current year's worker requirement. During each year, 10%' of all workers quit (workers who quit do not incur any firing cost).

With dynamic programming, formulate a recursion that can be used to minimize the total cost incurred in meeting the worker requirements of the next five years.

Reference no: EM13292672

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