Multiple objective linear programming $($MOLP$)$ problem:

The Chick'n Pick'n fast$-$food chain is considering how to expand its operations. Three

types of retail outlets are possible: a lunch$-$counter operation designed for office

buildings in downtown areas, an eat$-$in operation designed for shopping malls, and a

stand$-$alone building with drive$-$through and sit$-$down facilities. The following table

summarizes the number of jobs, start$-$up costs, and annual returns associated with each

type of operation:

Lunch Counter Mall Stand$-$alone

Jobs $91735$

Costs $$150,000$ $$275,000$ $$450,000$

Returns $$85,000$ $$125,000$ $$175,000$

The company has $$2,000,000$ available to pay start$-$up costs for new operations in the

coming year. Additionally, there are five possible sites for lunch$-$counter operations,

seven possible mall locations, and three possible stand$-$alone locations. The company

wants to plan its expansion in a way that maximizes annual returns and the number of

jobs created.

$1.$ Formulate an MOLP for this problem

$2.$ Determine the best possible value for each objective in the problem

$3.$ Implement your model in a spreadsheet and solve it to determine the solution

that minimizes the maximum percentage deviation from the optimal objective

function values. What solution did you obtain?

$4.$ Suppose management considers maximizing returns to be three times as

important as maximizing the number of jobs created. What solution does this

suggest?

Please submit your final solutions in a single Excel workbook containing each

spreadsheet model on a separate worksheet. Please include the actual model

formulation and answer any written questions in a textbox within the corresponding

worksheet.