From 7.1 (5 points total): a. In the forecasting problem fr…
From 7.1 (5 points total): a. In the forecasting problem from 7.1, why did you start the regression analysis in period 7? b. What were the dependent and independent variables in the regression from 7.1? From 8.1 (5 points total): Decision Variables: Ht = # of workers hired in month t (t = 1,..,12) Lt = # of workers laid-off in month t (t = 1,..,12) Wt = # of workers employed in month t (t = 1,..,12) Ot = # of hours of overtime in month t (t = 1,..,12) It = # of units (000s) held in inventory at the end of month t (t = 1,..,12) Ct = # of units (000s) subcontracted in month t (t = 1,..,12) Pt = # of units (000s) produced in month t (t = 1,..,12) Parameters: Dt = # of units (000s) demanded in time period t (t = 1,…12) Original Objective function from 8.1: Minimize 3200∑Wt+ 30∑Ot + 3000∑It + 20000∑Pt from t = 1 to 12 c. Rewrite the objective function to include the $28 subcontracting decision variable.