MANAGEMENT SCIENCE INDIVIDUAL PROJECT formulate a linear programming model and write down the mathematical model for this problem

UEH UNIVERSITY COLLEGE OF BUSINESS SCHOOL OF INTERNATIONAL BUSINESS ANDMARKETING MANAGEMENT SCIENCE INDIVIDUAL PROJECT Subject: Management Science Class ID: 21C1BUS50304001 Lecturer: Ph.

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UEH UNIVERSITY COLLEGE OF BUSINESS SCHOOL OF INTERNATIONAL BUSINESS AND

MARKETING

MANAGEMENT SCIENCE INDIVIDUAL PROJECT

Subject: Management Science

Class ID: 21C1BUS50304001

Lecturer: Ph.D Ha Quang An

Full Name: Nguyen Phuoc Loc Student ID: 31201025486

Class: IBC04 Major: International Business

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Question 2: …………

Question 3: …………

Sum: ………

………

LECTURER’S SIGNATURE

(Full Name and Signature)

Ha Quang An

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TABLE OF CONTENT

Linear Programming 2

Question a 2

Question b 4

Question c 4

Question d 5

Question e 5

Question f 6

Decision Making 8

Forecasting 10

Question a 10

Question b 10

Question c 10

Question d 11

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1 Linear Programming

a Formulate a linear programming model and write down the mathematical model for this problem

Decision variables are number of hours assigned to each consultant for respective project.

x ij = Number of hours consultant i is assigned to project j

i = A,B,C,D,E,F (Consultants)

j = 1,2,3,4,5,6,7,8 (Projects)

Objective is to maximize utilization of consultant skills and meeting clients’ needs based on ratings This can be accomplished by maximizing the product of the number of hours assigned and the ratings Since higher ratings are better, maximize the objective.

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Project 1: ∑ i= A F x i 1 × (Hourly Rate) i < 100,000

Project 3: ∑

i= A F

x i 3 × (Hourly Rate) i < 120,000

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Non-negativity constraint

X ij > 0

b Solve this problem using QM and SOLVER

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c If the company want to maximize revenue while ignoring client preferences and

consultant compatibility, will this change the solution in B?

When the company maximize revenue while ignoring client preferences and consultant

compatibility, the solution in B will change.

d Create a sensitivity report What is the shadow price in this case?

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e If consultant A and E change their hourly wage from $155 to $200 (A) and from $270 to

$200, will the solution change?

When consultant A and E change their hourly wage from $155 to $200 (A) and $270 to $200, the solution will change.

f By experience,

consultant B and E

is getting better at

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their ability, which mean their capacity for every project now minimum start from 3

instead of 1 or 2, will the shadow price change?

The shadow price will not change.

The shadow price of Q.F:

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The shadow price of Q.B:

2 Decision making

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EMV of Local gas company ¿ 60 %× 300.000+40%× 150.000=240.000

EMV of Provider ¿ 60%× (−100.000)+40 %× 600.000=180.000

EMV of Corporation ¿ 60%× 120.000+40%× 170.000=140.000

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The maximum profit is related to Locas gas company, so the decision must be Locas gas

company.

3 Forecasting

a Weighted Moving Average Method

The weight of April is 0.4

The weight of May is 0.2

The weight of June is 0.4

The forecasting demand for July ¿ 15×0.4+19× 0.2+18×0.4=17

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Tiêu đề	Management Science Individual Project Formulate A Linear Programming Model And Write Down The Mathematical Model For This Problem
Tác giả	Nguyen Phuoc Loc
Người hướng dẫn	Ph.D Ha Quang An
Trường học	Ueh University
Chuyên ngành	International Business
Thể loại	Individual Project

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