Question: Please no scratch paper or handwritten answers! Problem #10 (Models with Binary Variables): Fuller Legal Services wants to determine how much time to allocate to

Please no scratch paper or handwritten answers!Please no scratch paper or handwritten answers!

Problem #10 (Models with Binary Variables): Fuller Legal Services wants to determine how much time to allocate to four different services: business consulting, criminal work, nonprofit consulting, and wills/trusts. Mr. Fuller has determined the average hourly fees and the minimum and maximum hours (for consulting and criminal work) and cases (for wills/trusts) that he would like to spend on. He has no shortage of demand for his services. The relevant data is shown below. Develop and solve an integer optimization model to maximize monthly revenue. Consulting billables/hour min hours max hours Business consulting 200 45 Criminal work 150 100 Nonprofit consulting 100 35 70 30 20 Consulting Wills/trusts billables/client $3,000 min cases 2 max cases 6 hours/case 17 Hours per month: 200 WARNING: the textbook has a typo and says billables/client is $53,000. The correct value is $3,000. Professor Cursio adds: This is beyond the scope of the problem, but with a bit more extra work we can allow for the possibility that Mr. Fuller can give up one or more of his four different services. What we would need to do is create 4 binary variables for 1 = continue to provide services and don't. For example, we could define BC as binary as to whether or not he performs business consulting, and then BCH for the hours he does. If we make the constraint on the hours look like this 30 * BC BCH

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 General Management Questions!