please explain how you arrived at the answer.
EXERCISES eeds to plan their onths. Honeydew Chemicals produces a single l. Honeydew Chemical’s Chief Operating Officer. Ash Molinaro, n production for the next three iid fertilner -for which the following relevant information for the next 3 periods (months) is available. PRODUCTION COST DEMAND INVENTORY HOLDING COST PRODUCTION CAPACITY PER LITER (SI CHARGED AT THE END OF A PERIODO PER LITER I 2.40 2.50 2.80 500 300 500 0.20 0.25 0.20 600 400 300 The company has an initial inventory of 100 liters at the beginning of period 1, and is required to hold a minimum inventory of at least 50 liters at the end of period 3. a. Formulate a linear program, clearly defining all variables used, to determine the production and inventory in each period that minimizes the total Honeydew over the 3 periods, while meeting its demand requirements. cost for b. Use Solver to find the optimal solution to the linear program from part a. Turn in the spreadsheet model with solution.