Question: 3.55. Bidding for Classes In the MBA program at a prestigious university in the Pacific Northwest, students bid for electives in the second year of

3.55. Bidding for Classes In the MBA program at a prestigious university in the Pacific Northwest, students bid for electives in the second year of their program. Each student has 100 points to bid (total) and must take two electives. There are four electives available: Manage- ment Science (MS), Finance (Fin), Operations Management (OM), and Marketing (Mkt). Each class is limited to 5 students. The bids submitted for each of the 10 students are shown in the table below. Student Bids for Classes Student MS Fin OM Mkt George 60 10 10 20 Fred 20 20 40 20 Ann 45 45 5 5 Eric 50 20 5 25 Susan 30 30 30 10 Liz 50 50 0 0 Ed 70 20 10 0 David 25 25 35 15 Tony 35 15 35 15 Jennifer 60 10 10 20 a. Formulate and solve a spreadsheet model to determine an as- signment of students to classes so as to maximize the total bid points of the assignments. b. Does the resulting solution seem like a fair assignment? c. Which alternative objectives might lead to a fairer assignment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

1. In the MBA program at a prestigious university in the Pacific Northwest, students bid for electives in the second year of their program. Each student has 100 points to bid (total) and must take...

the MBA program at a prestigious university in the Pacific Northwest, students bid for electives in the second year of their program. Each student has 1 0 0 points to bid ( total ) and must take two...

In the MBA program at a prestigious university in the Pacific Northwest, students bid for electives Time left 0:59:11 year of their program. Each student has 100 points to bid (total) and must take...

Time left 0:58:38 In the MBA program at a prestigious university in the Pacific Northwest, students bid for electives year of their program. Each student has 100 points to bid (total) and must take...

search ED e.20 In the MBA program at a prestigious university in the Pacific Northwest, students bid for elective: Time left 0:50:58 year of their program. Each student has 100 points to bid (total)...

In the MBA program at a prestigious university in the Pacific Northwest, students bid for electives in the second year of their program. Each student has 1 0 0 points to bid ( total ) and must take...

10 20 Timelelt 5850 in the program at a prestigious university in the Pacific Northwest students tid for elective year of the program toch student hos 100 points to bid (total and must the two love....

Appendix C. Model C; Bidding for Classes (BFC) In the MBA program at a prestigious university in the UAE, students bid for electives in the second year of their program. Each student has 100 points...

Model C: Bidding for Classes (BFC) In the MBA program at a prestigious university in the UAE, students bid for electives in the second year of their program. Each student has 100 points to bid...

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is...

In the deuteron-triton fusion reaction of Eq. 43-15, what is the kinetic energy of (a) the alpha particle and (b) the neutron? Neglect the relatively small kinetic energies of the two combining...

Mode Multiple Choice Question If the transfer has no effect on fixed cost, the transfer price from the selling division's standpoint must be equal to or greater than the variable cost per unit +...

A certain country's factory sales of electronic goods to dealers from 1990 through 2001 can be modeled as s(t) = 0.03873 - 0.495t2 + 5.695t + 43.1 where output is measured in billion dollars and t is...