Find the cost minimizing production schedule

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Reference no: EM132306924

A crane manufacturer must supply 200 cranes in July, 300 in August, and 300 in September. The monthly costs for producing x>0 cranes is 10x + 250 in July, 10x + 250 in August, and 12x + 250 in September. Cranes made during a month can be used to meet demand for that month or for any future months. The cost of holding a crane for one month is $1.5. If we assume that we currently have 0 cranes in stock and that each month’s production must be a multiple of 100, then use dynamic programming to find the cost minimizing production schedule.

Reference no: EM132306924

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