PLEASE TYPE THE ANSWER - NO WRITTEN ANSWERS PLEASE An undergraduate business maj

Question

PLEASE TYPE THE ANSWER - NO WRITTEN ANSWERS PLEASE

An undergraduate business major is attempting to determine her course schedule for the fall semester. She is considering six courses, which are shown in the following table. Also included are the number of hours she expects to have to devote to each course each week and her expected grade in each course:

Course                               Hours per Week                     Expected Grade

Management I                         6                                              3.5

Principles of Accounting           10                                            4

Corporate Finance                    9                                              3

Marketing Management             7                                              3.5

Java Programming                    11                                            2.7

Project Management                 8                                              3

She does not want to work more than 40 hours each week. Principles of Accounting, Corporate Finance, and Java Programming all require a lot of computing and mathematics, and she would like to take no more than two of these courses. To remain on schedule and meet prerequisites, she needs to take at least two of the following courses: Management I, Corporate Finance and Marketing Management. To remain a full time student, she must take at least four courses. The student wants to develop a course schedule that will maximize the total expected grade.

Formulate a capital budgeting problem for the above situation by determining

(a) The decision variables.

(b) Determine the objective function. What does it represent?

(c) Determine all the constraints. Briefly describe what each constraint represents.

Note: Do NOT solve the problem after formulating.

PLEASE TYPE THE ANSWER - NO WRITTEN ANSWERS PLEASE

Explanation / Answer

a) Decision Variables:

Each Course is a variable which can take value of 0 or 1 (Zero programming problem). Therefore variables are

1) Management I – A

2) Principles of Accounting – B

3) Corporate Finance – C

4) Marketing Management – D

5) Java Programming – E

6) Project Management – F

b) Objective Function:

Total expected grade should be maximized.

X = 3.5A + 4B + 3C + 3.5D + 2.7E + 3F

c) Constraints:

Let's call hours per week H.

H = 6A + 10B + 9C + 7D + 11E + 8F

which is not more than 40.

i.e H 40

Therfore, 6A + 10B + 9C + 7D + 11E + 8F 40       

She cannot take more than two of Principles of Accounting (B), Corporate Finance (C), and Java Programming (E)

i.e B+C+E < 3

She needs to take at least two of Management I (A), Corporate Finance (C), and MarketingManagement (D)

i.e A+C+D 2

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