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Homework answers / question archive / Develop and solve the linear program for this transshipment (cost) problem
Develop and solve the linear program for this transshipment (cost) problem. What is the optimal solution and what is the total cost? 3 500 1 6 600 5 9 400 12 2 15 8 7 600 300 ??? 10 4. (15 points) Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing, or using a combination of its staff and an outside vendor. The profit of the corporation depends on future demand. The annual profit of each option (in thousands of dollars) depends on demand as follows: Staffing Options Own staff Outside vendor Combination High 650 900 700 Demand Median 650 600 650 Low 600 400 500 a. Recommend a decision based on the use of the optimistic, conservative, and minimax regret approaches (show regret table). b. If the demand probabilities are 0.2, 0.5, and 0.3, respectively for High, Median, and Low demands, use the expected value approach to determine the optimal decision (show steps).
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