Korey is a business student at State U. She has just completed a course in decision models, which had a midterm exam, a final exam, individual assignments, and class participation. She earned an 86% on the midterm, 94% on the final, 93% on the individual assignments, and 85% on participation. The benevolent instructor is allowing his students to determine their own weights for each of the four grade components— of course, with some restrictions:
• The participation weight can be no more than 15%.
• The midterm weight must be at least twice as much as the individual assignment weight.
• The final exam weight must be at least three times as much as the individual assignment weight.
• The weights of the four components must be at least 10%.
• The weights must sum to 1.0 and be nonnegative.
a. Develop a model that will yield a valid set of weights to maximize Korey’s score for the course.
b. Implement your model on a spreadsheet and find a good solution using only your intuition.
c. Find an optimal solution using Solver.