3.The Human Resources Scheduling Problem (Linear Programming) In a calculated financial maneuver, E-Power Inc. has acquired...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
3.The Human Resources Scheduling Problem (Linear Programming) In a calculated financial maneuver, E-Power Inc. has acquired a new manufacturing facility for producing small electric motors. You have been asked to provide an answer to the following question: How many new personnel should be hired and trained, or laid off, over each of the next six months? The labor requirements and monthly wage rates for trained employees are given in the following table. Jan Mar Apr Monthly Wage Rate Mfg. Hours Required $3,800 8,000 Feb $3,800 7,600 $4,000 9,100 $4,000 10,200 May $4,200 9,300 Jun $4,200 7,600 Trainees can be hired at the beginning of each month. One consideration to take into account is that workers must have one month of classroom instruction before they can work in manufacturing. Therefore, a trainee must be hired a month before the worker is actually needed. Each classroom student uses 60 hours of a trained employee's time, so there are 60 fewer hours available for manufacturing. Each trained employee can work up to 180 hours a month (total time, instructing plus in manufacturing). Management may lay off at most 15% of the trained employees at the beginning of the month, but must pay one-half-month's wage for severance pay. A trainee is paid 40% of regular wages for a trained employee during their training month. There are 46 trained employees available at the beginning of January. Formulate this hiring-and- training-and-layoffs model as a linear programming spreadsheet model. 3.The Human Resources Scheduling Problem (Linear Programming) In a calculated financial maneuver, E-Power Inc. has acquired a new manufacturing facility for producing small electric motors. You have been asked to provide an answer to the following question: How many new personnel should be hired and trained, or laid off, over each of the next six months? The labor requirements and monthly wage rates for trained employees are given in the following table. Jan Mar Apr Monthly Wage Rate Mfg. Hours Required $3,800 8,000 Feb $3,800 7,600 $4,000 9,100 $4,000 10,200 May $4,200 9,300 Jun $4,200 7,600 Trainees can be hired at the beginning of each month. One consideration to take into account is that workers must have one month of classroom instruction before they can work in manufacturing. Therefore, a trainee must be hired a month before the worker is actually needed. Each classroom student uses 60 hours of a trained employee's time, so there are 60 fewer hours available for manufacturing. Each trained employee can work up to 180 hours a month (total time, instructing plus in manufacturing). Management may lay off at most 15% of the trained employees at the beginning of the month, but must pay one-half-month's wage for severance pay. A trainee is paid 40% of regular wages for a trained employee during their training month. There are 46 trained employees available at the beginning of January. Formulate this hiring-and- training-and-layoffs model as a linear programming spreadsheet model.
Expert Answer:
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
Posted Date:
Students also viewed these general management questions
-
Q1. You have identified a market opportunity for home media players that would cater for older members of the population. Many older people have difficulty in understanding the operating principles...
-
Case Study: Quick Fix Dental Practice Technology requirements Application must be built using Visual Studio 2019 or Visual Studio 2017, professional or enterprise. The community edition is not...
-
2. Consider two households, one with an income twice as large as the other. Both households pay the equivalent of 5% of their income to consume free (public) education to the quantity PS (where PS...
-
Suppose the current long-term government bond yield is 2 percent and the estimated market risk premium is 5 percent. Fastest Company's beta is estimated to be 1.15. Using CAPM, estimate Fastest...
-
Warner Company's year-end unadjusted trial balance shows accounts receivable of $119,000, allowance for doubtful accounts of $800 (credit), and sales of $480,000. Uncollectibles are estimated to be...
-
What valuable analysis should be completed when a machine or motor under test is getting ready to be shut down?
-
Alpha Corporation has been in business for two years. It incurred the following items last year (Year 1): Gross profits on sales .. $240,000 Operating expenses . 100,000 Long-term capital gain 8,000...
-
Proud Corporation acquired 80 percent of Stergis Company's voting stock on January 1, 20X3, at underlying book value. The fair value of the noncontrolling interest was equal to 20 percent of the book...
-
Barnett Industries, Inc., issued $600,000 of 8% bonds on January 1, 2019. The bonds pay interest semiannually on July 1 and January 1. The maturity date on these bonds is December 31, 2028. The firm...
-
All-Star Real Estate Inc. is a relatively new licensing and educational business on the outskirts of downtown Vancouver. Currently, it is housed in a three-story building with twelve...
-
What cost structure creates economies of scale? Why?
-
a. What is meant by a businesss underlying cost structure? b. Why is this information valuable to managers?
-
We have considered perfect hedging, and we have taken for granted that we know the size of the required hedge. Consider the case of a US firm that will need an amount of \(N\) euro in six months. The...
-
What is the structure of the finance function in healthcare organizations?
-
Describe marginal analysis.
-
Implement the following algorithms: 1. Insertion Sort 2. Merge Sort 3. In-place quicksort (any random item or the first or the last item of your input can be pivot). 4. Modified quicksort: a. Use...
-
Representative data read from a plot that appeared in the paper Effect of Cattle Treading on Erosion from Hill Pasture: Modeling Concepts and Analysis of Rainfall Simulator Data (Australian Journal...
-
What are the differences and similarities between origin image and the origin biases?
-
Give examples of global market segments and companies that are marketing on that basis. Can small and medium-sized enterprises market successfully to such segments? Explain.
-
The Tainan Glass Manufacturing Company of Taiwan (the name of the company is disguised) produces large glass sheets for windows, display cases, and industrial uses. It is one of two manufacturers in...
-
Thor Industries manufactures Airstream and other recreational vehicles (RVs). In In June 2023, an article in the Wall Street Journal stated that the inventories of RVs held by Thor dealers had risen...
-
An article in the New York Times in early 2009 stated that even though The the U.S. economy was in a recession, and movie ticket sales had increased by 17.5 percent. In contrast, during 2020, ticket...
-
An article on barrons.com observed that the U.S. dollar has been droppingand thats good news for the stock market and companies that get a large chunk of their sales from overseas. a. What does the...
Study smarter with the SolutionInn App