A consulting firm with ten employees is considering which of eight projects they should undertake during...
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A consulting firm with ten employees is considering which of eight projects they should undertake during the next year. Each project will be considered on an all-or-nothing basis. Each employee works 240 days per year. No one new will be hired; up to three employees can be laid off. At least three projects must be done. The director's favourite projects are 3, 4, 5, and 8; at least one of these must be chosen. The company wants its consumption of central processing units (CPU) to be no more than 1000 hours per year. The data for the eight potential projects are: Project 1 2345678 Profit Employee Time (person-days) (millions) 2.1 550 400 300 350 450 500 350 200 0.5 3.0 2.0 1.0 1.5 0.6 1.8 (a) Formulate an integer model for this problem. (b) Solve the model using LINGO. CPU Time (hours) 200 150 400 450 300 150 200 600 A consulting firm with ten employees is considering which of eight projects they should undertake during the next year. Each project will be considered on an all-or-nothing basis. Each employee works 240 days per year. No one new will be hired; up to three employees can be laid off. At least three projects must be done. The director's favourite projects are 3, 4, 5, and 8; at least one of these must be chosen. The company wants its consumption of central processing units (CPU) to be no more than 1000 hours per year. The data for the eight potential projects are: Project 1 2345678 Profit Employee Time (person-days) (millions) 2.1 550 400 300 350 450 500 350 200 0.5 3.0 2.0 1.0 1.5 0.6 1.8 (a) Formulate an integer model for this problem. (b) Solve the model using LINGO. CPU Time (hours) 200 150 400 450 300 150 200 600
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Answer rating: 100% (QA)
Solution The following projects should be selected Project 2 Project 5 Project 6 Project 8 These projects generate a total revenue of 45000 Explanatio... View the full answer
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
Posted Date:
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