Lucy sells tomatoes. On May 1st, Lucy owns 8 million tons of tomatoes and has $15000 on hand. On the second day of every month starting from May, Lucy could purchase tomatoes. On the other hand, on the 28th day of every month, Lucy could sell the tomatoes she owns. Lucy has a warehouse and the warehouse can hold up to 15.2 million tons of tomatoes. When Lucy purchases tomatoes, she needs to pay cash. She doesn’t want to borrow any money at any moment.
The selling price and buying price of tomatoes in each month are shown below:
|
May |
June |
July |
August |
|
|
Buying price (per million tons of tomatoes) |
$350 |
$400 |
$350 |
$450 |
|
Selling price (per million tons of tomatoes) |
$360 |
$350 |
$250 |
$500 |
Build an Excel model and use Solver to help Lucy maximize the cash she has on August 29th. Your model should be robust enough, so that when numbers (e.g., buying and selling prices) are changed, Solver can still produce correct results.
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