Solved

Robert Hope Received a Welcome Surprise in This Management Science 25%25 \%

Question 81

Essay

Robert Hope received a welcome surprise in this management science class; the instructor has decided to let each person define the percentage contribution to their grade for each of the graded instruments used in the class. These instruments were: homework, an individual project, a mid-term exam, and a final exam. Robert's grades on these instruments were 75, 94, 85, and 92, respectively. However, the instructor complicated Robert's task somewhat by adding the following stipulations:
-homewark can account far up to 25%25 \% of the grade, but must be at least 5%5 \% af the grade;
- the praject can account for up to 25%25 \% of the grade, but must be at least 5%5 \% af the grade;
- the mid-term and final must each accaunt far betwen 10%10 \% and 40%40 \% of the grade but cannot accaunt far mare than 7%7 \% of the grade when the percentages are cambined; and
- the project and final exam grades may not collectively constitute more than 50%50 \% of the Iratade. The following LP model allows Robert to maximize his numerical grade.
 Let W1= weight assigned to hamewark W2= waight assigned to the praject W3= weight assigned to the midi-term W4= waight assigned to the final  MAX: 75 W1+94 W2+85 W3+92 W4 Subject to: W1+W2+W3+W4=1W3+W40.70W3+W40.50 0. 05W10.25 0. 05W20.25 0.10 W30.400.10W40.40\begin{array} { l } \text { Let } \quad W _ { 1 } = \text { weight assigned to hamewark } \\ \quad \quad \quad W _ { \mathbf { 2 } } = \text { waight assigned to the praject } \\\quad \quad \quad W _ { 3 } = \text { weight assigned to the midi-term } \\ \quad \quad \quad W _ { 4 } = \text { waight assigned to the final } \\\\\text { MAX: } \quad 75 \mathrm {~W} _ { 1 } + 94 \mathrm {~W} _ { 2 } + 85 \mathrm {~W} _ { 3 } + 92 \mathrm {~W} _ { 4 } \\\text { Subject to: } \quad W _ { 1 } + W _ { 2 } + W _ { 3 } + W _ { 4 } = 1 \\ \quad \quad \quad \quad \quad \quad W _ { 3 } + W _ { 4 } \leq0 .70 \\ \quad \quad \quad \quad \quad \quad W _ { 3 } + W _ { 4 } \geq 0.50 \\ \quad \quad \quad \quad \quad \quad\text { 0. } 05 \leq W _ { 1 } \leq 0.25 \\ \quad \quad \quad \quad \quad \quad\text { 0. } 05 \leq W _ { 2 } \leq 0.25 \\ \quad \quad \quad \quad \quad \quad\text { 0.10 } \leq W _ { 3 } \leq 0 .4 0 \\ \quad \quad \quad \quad \quad \quad0 .10 \leq W _ { 4 } \leq 0.40 \\\end{array}  Robert Hope received a welcome surprise in this management science class; the instructor has decided to let each person define the percentage contribution to their grade for each of the graded instruments used in the class. These instruments were: homework, an individual project, a mid-term exam, and a final exam. Robert's grades on these instruments were 75, 94, 85, and 92, respectively. However, the instructor complicated Robert's task somewhat by adding the following stipulations:  -homewark can account far up to  25 \%  of the grade, but must be at least  5 \%  af the grade; - the praject can account for up to  25 \%  of the grade, but must be at least  5 \%  af the grade; - the mid-term and final must each accaunt far betwen  10 \%  and  40 \%  of the grade but cannot accaunt far mare than  7 \%  of the grade when the percentages are cambined; and - the project and final exam grades may not collectively constitute more than  50 \%  of the Iratade. The following LP model allows Robert to maximize his numerical grade.   \begin{array} { l }  \text { Let } \quad W _ { 1 } = \text { weight assigned to hamewark } \\  \quad \quad  \quad W _ { \mathbf { 2 } } = \text { waight assigned to the praject } \\ \quad \quad \quad W _ { 3 } = \text { weight assigned to the midi-term } \\  \quad \quad \quad W _ { 4 } = \text { waight assigned to the final } \\ \\ \text { MAX: } \quad 75 \mathrm {~W} _ { 1 } + 94 \mathrm {~W} _ { 2 } + 85 \mathrm {~W} _ { 3 } + 92 \mathrm {~W} _ { 4 } \\ \text { Subject to: } \quad W _ { 1 } + W _ { 2 } + W _ { 3 } + W _ { 4 } = 1 \\  \quad \quad \quad \quad \quad  \quad W _ { 3 } + W _ { 4 } \leq0 .70 \\  \quad \quad \quad \quad \quad \quad W _ { 3 } + W _ { 4 } \geq 0.50 \\  \quad \quad \quad \quad \quad \quad\text { 0. } 05 \leq W _ { 1 } \leq 0.25 \\  \quad \quad \quad \quad \quad \quad\text { 0. } 05 \leq W _ { 2 } \leq 0.25 \\  \quad \quad \quad \quad \quad \quad\text { 0.10 } \leq W _ { 3 } \leq 0 .4 0 \\  \quad \quad \quad \quad \quad \quad0 .10 \leq W _ { 4 } \leq 0.40 \\ \end{array}     What values would you enter in the Risk Solver Platform (RSP) task pane for the cells in this Excel spreadsheet implementation of this problem? Objective Cell: Variables Cells: Constraints Cells: What values would you enter in the Risk Solver Platform (RSP) task pane for the cells in this Excel spreadsheet implementation of this problem?
Objective Cell:
Variables Cells:
Constraints Cells:

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents