Question: show Excel Solver method in details using Simplex LP (Decision Variable, Objective Function, Constraint) Sey Marketing Research has just signed contracts to conduct studies for
show Excel Solver method in details using Simplex LP (Decision Variable, Objective Function, Constraint)
Sey Marketing Research has just signed contracts to conduct studies for four clients. At present, three project managers are free for assignment to the tasks. Although all are capable of handling each assignment, the times and cost to complete the studies depend on the experience and knowledge of each manager. Using his judgement, John Sey, the president, has been able to establish a cost for each possible assignment. These costs, which are really the salaries each manager would draw on for each task, are summarized in the following table. Sey is very hesitant about neglecting NASA, which has been an important customer in the past. (NASA has employed the firm to study the public's attitude toward the Space Shuttle and proposed Space Station). In addition, Sey has promised to try to provide Ruth with a salary of at least $3000 on his next assignment. From previous contacts, Sey also knows that Gardener does not get along well with the management of CBT Television, so he hopes to avoid assigning her to CBT. Finally, ass Hines Corporation is also an old and valued client, Sey feels that it is twice as important to assign a project manager immediately to Hines' task as it is to provide one to General Foundary, a brand-new client. Sey wants to minimize the total costs of all projects while considering each of these goals. He feels that all of these goals are important, but if he had to rank them, he would put his concern about NASA first, his worry about Gardener second, his need to keep Hines Corporation happy third, his promise to Ruth fourth, and his concern about minimizing all cost last. Each project manager can handle, at most one new client. (a) If Sey were not concerned about noncost goals, how would he formulate this problem so that it could be solved quantitatively? (b) Develop a formulation that will incorporate all five objectives. (c) Propose solution to the
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