Question: Question 7 . Ricky's Record Store now employs five full - time employees and three part - time employees. The normal workload is 4 0
Question
Ricky's Record Store now employs five fulltime employees and three parttime employees. The normal workload is hours per week for fulltime and hours per week for parttime employees. Each fulltime employee is paid $ per hour for work up to hours per week and can sell records per hour. A fulltime employee who works overtime is paid $ per hour. Each parttime employee is paid $ per hour and cansell records per hour. It costs Ricky $ to buy a record, and each record sells for $ Ricky has weekly fixed expenses of $ He has established the following weekly goals, listed in order of priority:
Goal : Sell at least records per week.
Goal : Earn a profit of at least $ per week.
Goal : Fulltime employees should work at most hours of overtime.
Goal : To increase their sense of job security, the number of hours by which each fulltime employee fails to work hours should be minimized.
Formulate a goal programming model that could be used to determine how many hours per week each employee should work.
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