1) write out the the LP in standard from

ex mimimize maximize (objective function)

constraints1

constraints 2

2) what is minimum-cost schedule for the bank? submit excel showing solver setup

note the average normal rate for full time is $24.08 and for part time $17.82

schedule that would meet personnel requirements at any given time and also be economical. Chase Manhattan Bank The workload in many areas of bank operations has the char- acteristics of a non-uniform distribution with respect to time of day. For example, at Chase Manhattan Bank in New York, the number of domestic money transfer requests received from customers, if plotted against time of day, would appear to have the shape of an inverted U curve, with the peak around ITM For efficient use of resources, the personnel available should, therefore, vary correspondingly. Figure 3.1 shows a typical workload curve and corresponding personnel requirements at different hours of the day, A variable capacity can be achieved effectively by employ. ing part-time personnel. Because part-timers are not entitled to all the fringe benefits, they are often more economical than full-time employees. Other considerations, however, may limit the extent to which part-time people can be hired in a given department. The problem is to find an optimum workforce Workload 9-10 AM 4-5PM Hour Personnel Hours Required FIGURE 3.1 Figure for Case Study: Chase Manhattan Bank CASE STUDY 117 34 Some of the factors affecting personnel assignment are TABLE 3.17 Data for Chase Manhattan Bank listed here: a. Full-time employees work for 8 hours per day, with a TIME PERIOD HOURS REQUIRED 1 hour break for lunch included. 9-10 AM 14 b. Fifty percent of the full-timers go to lunch between 11 10-11 25 A.M. and noon, and the remaining 50% go between noon 11-12 26 and 1 P.M 12-1 PM 38 c. Part-timers work for at least 4 continuous hours but no 1-2 55 more than 7 continuous hours per day and are not allowed 60 2-3 a lunch break d. By corporate policy, part-time personnel hours are limited 51 to a maximum of 40% of the day's total requirement 4-5 19 e. The shift starts at 9 A.M. and ends at 7 p.M. (ie, overtime 56 14 is limited to 2 hours). Any work left over at 7PM. is con- 6.7 . sidered holdover for the next day. 1. A full-time employee is not allowed to work more than 1 hour of overtime per day. He or she is paid at the normal rate even for overtime hours hor at one and one-half times the normal mute typically applicable to overtime hours. Fringe persoanel cost subject to meeting or exceeding the hourly work force requirements as well as the constraints on the workers benefits are not applied to overtime hours listed earlier In addition, the following costs are pertinent: a. The average normal rate per full-time personnel hour is Discussion Questions $24.08 b. The fringe benefit rate per full-time personnel hour is charged at 25 the normal rate. c. The average rate per part-time personnel hour is $17.82 SSL SL West The personnel hours required, by hour of day, are given in Table 3.17. The bank's goal is to achieve the minimum possible