The Institute for Operations Research and Management Science (INFORMS) has contracted with Sentinel Security to provide security
Question:
a. Formulate a model shell for this simplified problem. The objective of which is to maximize the net profit to Sentinel Security for supplying security service for T attendees to the national meeting in New York using the following decision variables:
X1 = number of guards needed each day
X2 = number of guards needed each evening
b. Explain why this problem of maximizing net profit is equivalent to minimizing the variable cost of payments to its security guards.
c. INFORMS expects 2000 attendees, and it wishes to have at least two guards on duty each evening. If the contracted price from INFORMS is $10,000, fixed costs are expected to be $1000, and Sentinel pays its guards $15 per hour lor day security and $ 12 per hour for evening security, develop a complete mathematical model for security at the INFORMS meeting.
d. Suppose attendance is expected to be 2200. Now what would be the model? (Did you forget to include in your constraints that the number of guards must be an integer?)
Project Management The Managerial Process
ISBN: 9781260570434
8th Edition
Authors: Eric W Larson, Clifford F. Gray