UDT is a consulting firm that develops e-commerce project, systems and websites for its clients. It...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
UDT is a consulting firm that develops e-commerce project, systems and websites for its clients. It has six available consultants and eight clients project is under contract. The consultants have different technical abilities and experience, and as a result, the company charges different hourly rates for its services. Also, the consultant's skill are more suited for some projects than others, and clients sometimes prefer some consultants over others. The suitability of a consultant for a project is rated according to a 5-point scale, in which 1 is the worst and 5 is the best. The following table shows the rating for each consultant for each project, as well as the hours available for each consultant and the contracted hours and maximum budget for each project: Project 4 Consultant Hourly 1 7 Available hours wage $155 A 3. 5 5 3 450 $140 3 3 5 5 3 3 600 C $165 2 1 3 1 3 500 D $300 1 3 1 1 1 300 E $270 3 1 1 1 3 710 F $150 4 5 3. 2 3 5 4 3 860 Project Hours 500 240 400 475 350 460 290 200 Contract 100 80 120 90 65 85 50 55 budget (x1000 USD) The company wants to know how many hours to assign each consultant to each project in order to best utilize their skill while meeting clients needs a. Formulate a linear programming model and write down the mathematical model for this problem. b. Solve this problem using QM and SOLVER c. If the company want to maximize revenue while ignoring client preferences and consultant compatibility, will this change the solution in b. ? d. Create a sensitivity report. What is the shadow price in this case ? e. If consultant A and E change their hourly wage from $155 to $200 (A) and from $270 to $200, will the solution change ? f. By exprerience, consultant B and E is getting better at their ability, which mean their capacity for every project now minimum start from 3 instead of 1 or 2, will the shadow UDT is a consulting firm that develops e-commerce project, systems and websites for its clients. It has six available consultants and eight clients project is under contract. The consultants have different technical abilities and experience, and as a result, the company charges different hourly rates for its services. Also, the consultant's skill are more suited for some projects than others, and clients sometimes prefer some consultants over others. The suitability of a consultant for a project is rated according to a 5-point scale, in which 1 is the worst and 5 is the best. The following table shows the rating for each consultant for each project, as well as the hours available for each consultant and the contracted hours and maximum budget for each project: Project 4 Consultant Hourly 1 7 Available hours wage $155 A 3. 5 5 3 450 $140 3 3 5 5 3 3 600 C $165 2 1 3 1 3 500 D $300 1 3 1 1 1 300 E $270 3 1 1 1 3 710 F $150 4 5 3. 2 3 5 4 3 860 Project Hours 500 240 400 475 350 460 290 200 Contract 100 80 120 90 65 85 50 55 budget (x1000 USD) The company wants to know how many hours to assign each consultant to each project in order to best utilize their skill while meeting clients needs a. Formulate a linear programming model and write down the mathematical model for this problem. b. Solve this problem using QM and SOLVER c. If the company want to maximize revenue while ignoring client preferences and consultant compatibility, will this change the solution in b. ? d. Create a sensitivity report. What is the shadow price in this case ? e. If consultant A and E change their hourly wage from $155 to $200 (A) and from $270 to $200, will the solution change ? f. By exprerience, consultant B and E is getting better at their ability, which mean their capacity for every project now minimum start from 3 instead of 1 or 2, will the shadow
Expert Answer:
Answer rating: 100% (QA)
The company wants to know how many hours to assign ... View the full answer
Related Book For
Operations Management Creating Value Along the Supply Chain
ISBN: 978-0470525906
7th Edition
Authors: Roberta S. Russell, Bernard W. Taylor
Posted Date:
Students also viewed these accounting questions
-
Vantage Systems is a consulting firm that develops e-commerce systems and Web sites for its clients. It has six available consultants and eight client projects under contract. The consultants have...
-
A friend owns and operates a consulting firm that works for a single client under one consulting agreement. The consulting firm bills the client monthly for charges incurred. She asks you whether you...
-
Finley and Associates is a consulting firm that spends $60,000 per year advertising the companys brand names and trademarks. Gross margin on sales after taxes is up $66,000 each year because of these...
-
The following data represent the concentration of dissolved organic carbon (mg/L) collected from 20 samples of organic soil. Assume that the population is normally distributed. Complete parts (a)...
-
Empire Company Limited owns or franchises more than 1,300 corporate and franchised stores in all 10 provinces under retail banners that include Sobeys, Foodland, Fresh Co, Safeway, IGA, IGA Extra,...
-
Marlow Company uses a perpetual inventory system. It entered into the following calendar-year 2011 purchases and sales transactions. Required 1. Compute cost of goods available for sale and the...
-
The Dow Jones Industrial Average is an average of the prices of 30 industrial stocks with equal weights applied to all 30 stocks (but the sum of the weights is greater than 1). Occasionally (about...
-
Suppose demand and supply are given by a. Determine the equilibrium price and quantity. Show the equilibrium graphically.b. Suppose a $6 excise tax is imposed on the good. Determine the new...
-
2 Type in 3 rows of data for EMPLOYEE and STORE tables and 2 rows data for REGION table. Please use exactly the same data as shown in the picture in the picture above. Paste the screenshots of those...
-
If we accept the Sharpe model as a description of expected returns, using the data in Table 16.1, find the expected return on a stock in the construction industry with the following characteristics....
-
Write a paper in which you address the following: * Was your current debt to income ratio what you expected it to be? *Determine how much interest you pay each month on your current debt. Do not give...
-
Why are fed funds called overnight money?
-
What is meant by the average life of a pass-through?
-
A cash flow for a pass-through typically is based on some prepayment benchmark. Describe the benchmark.
-
What is a commercial mortgage loan?
-
Leaders must be clear about what drives them to authentically navigate the landscape and be able to see and understand other perspectives, as well as to be patient and persistent to be an influence....
-
A fence is to be placed along a rectangular garden so that the enclosed area is 84ft^(2) If the length of the plot is 5 feet more than the width, what is the width and length represents? Let x= width...
-
Would you use the adjacency matrix structure or the adjacency list structure in each of the following cases? Justify your choice. a. The graph has 10,000 vertices and 20,000 edges, and it is...
-
Bioway, Inc., a manufacturer of medical supplies, uses aggregate planning to set labor and inventory levels for the year. While a variety of items are produced, a standard kit composed of basic...
-
Identify three service businesses in your community and describe their supply chains.
-
Spiffy Dry Cleaners has recently changed management, and the new owners want to revise the current layout. The store performs six main services: (1) Laundry, (2) Dry cleaning, (3) Pressing, (4)...
-
(a) Among 880 smart phones sold by a retailer, 72 required repairs under the warranty. Estimate the probability that a new phone, which has just been sold, will require repairs under the warranty....
-
A car rental agency has 19 compact cars and 12 intermediate-size cars. If four of the cars are randomly selected for a safety check, what is the probability of getting two of each kind?
-
With reference to Exercise 3.34, suppose that the questionnaire filled in by one of the 150 persons is to be double-checked. If it is chosen in such a way that each questionnaire has a probability of...
Study smarter with the SolutionInn App