Question: Problem Foster School's Undergraduate Business Program is assembling a team of four students to participate in a national case competition. During the competition, the team

Problem

Foster School's Undergraduate Business Program is assembling a team of four students to participate in a national case competition. During the competition, the team must submit a complete analysis in four business areas: Finance, Accounting, Marketing, and Operations. While a student is capable of performing any of the four area analysis, each student will be assigned to only one functional area.

John

Sarah

Kim

Mark

Finance

90

82.3

86.2

83

Accounting

86.9

76.6

77.8

85.3

Marketing

89.8

86.7

81.1

89.6

Operations

93.6

90.8

90.4

91.5

Students expertise in each functional area can be represented by recent aptitude test score shown in the table above (maximum score of 100). The goal is to form a team with the strongest overall quality, i.e., assign students to different functional areas to maximize the team's total score.

1. Define your decision variables, then based on your decision variable definitions formulate (mathematically) the objective function of an LP model that maximizes the total score and the constraints for this problem.

Formulate this problem as an LP problem on a spreadsheet and then use the Excel solver to determine the optimal solution and the maximum total score.

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 Accounting Questions!