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You own a wheat warehouse with a capacity of 20 bushelsAt the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought and sold at the prices per one bushel shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy much wheat as you want , subject to the warehouse capacity Determine how to maximize the profit earned over the next 10 months. Need to use only excel for this question

You own a wheat warehouse with a capacity of 20 bushelsAt the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought and sold at the prices per one bushel shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy much wheat as you want , subject to the warehouse capacity Determine how to maximize the profit earned over the next 10 months. Need to use only excel for this question

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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You own a wheat warehouse with a capacity of 20 bushelsAt the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought and sold at the prices per one bushel shown in the above table. The sequence of events during each month is as follows: You observe your initial stock of wheat. You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy much wheat as you want , subject to the warehouse capacity Determine how to maximize the profit earned over the next 10 months. Need to use only excel for this question
Ċ Excel ●●● Home G18 1 2 Get Data (Power Query) Month 1 Month 2 3 4 5 6 7 Month 5 8 Month 6 9 Month 7 A Month 3 Month 4 30 31 34 35 36 37 38 39 40 41 42 43 44 45 V . esc File AutoSave Edit View Insert Insert Draw Page Layout B Selling Price Data from Picture $3 $6 $7 $1 $4 $5 $5 $1 $3 $2 OFF 0 v fx 0 0 Q с Purchase nBe Refresh All (2 B CO-.. $8 $8 $2 $3 $4 $3 $3 $2 $5 $5 HW1 Problem 1 Ready 1 Accessibility: Investigate D initial sock @ 2 Tools Format B W m Stocks Formulas Data Review E qty sold Problem 2 + Data I U # 10 Month 8 11 Month 9 12 Month 10 13 14 revenue 15 cost 16 profit 17 18 19 20 21 22 23 You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought 24 and sold at the prices per one bushel shown in the above table. 25 The sequence of events during each month is as follows: 26 27 You observe your initial stock of wheat. 28 29 You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity. 32 Determine how to maximize the profit earned over the next 10 months. 33 3 ro Currencies Window Help 442HW1 (1) View > F G qty purchased ending stock S4 232 Y Sort Filter H #tv ♫ Automate 6 6 6 6 6 6 6 6 6 6 6 H SENTINE HASIER & 175 7 Y % I Developer Tell me all 348. Text to Columns J ZA A K A 6 L What-If Analysis & Y 7 M E V Outline N *80 Comment An Da 2, Soll O +
Transcribed Image Text:Ċ Excel ●●● Home G18 1 2 Get Data (Power Query) Month 1 Month 2 3 4 5 6 7 Month 5 8 Month 6 9 Month 7 A Month 3 Month 4 30 31 34 35 36 37 38 39 40 41 42 43 44 45 V . esc File AutoSave Edit View Insert Insert Draw Page Layout B Selling Price Data from Picture $3 $6 $7 $1 $4 $5 $5 $1 $3 $2 OFF 0 v fx 0 0 Q с Purchase nBe Refresh All (2 B CO-.. $8 $8 $2 $3 $4 $3 $3 $2 $5 $5 HW1 Problem 1 Ready 1 Accessibility: Investigate D initial sock @ 2 Tools Format B W m Stocks Formulas Data Review E qty sold Problem 2 + Data I U # 10 Month 8 11 Month 9 12 Month 10 13 14 revenue 15 cost 16 profit 17 18 19 20 21 22 23 You own a wheat warehouse with a capacity of 20 bushels. At the beginning of month 1, you have 6 bushels of wheat. Each month, wheat can be bought 24 and sold at the prices per one bushel shown in the above table. 25 The sequence of events during each month is as follows: 26 27 You observe your initial stock of wheat. 28 29 You can sell any amount of wheat up to your initial stock at the current month's selling price. You can then buy as much wheat as you want, subject to the warehouse capacity. 32 Determine how to maximize the profit earned over the next 10 months. 33 3 ro Currencies Window Help 442HW1 (1) View > F G qty purchased ending stock S4 232 Y Sort Filter H #tv ♫ Automate 6 6 6 6 6 6 6 6 6 6 6 H SENTINE HASIER & 175 7 Y % I Developer Tell me all 348. Text to Columns J ZA A K A 6 L What-If Analysis & Y 7 M E V Outline N *80 Comment An Da 2, Soll O +
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