Using Excel QM show and solve the following problem:
The dean of Western college of business must plan the school's course offerings for the fall semester. Student demand makes it necessary to offer at least 30 undergraduate and 20 graduate courses in the term. Faculty contracts also dictate that at least 60 courses be offered in total. Each undergraduate course taught costs the college an average of $2500 in faculty wages, and each graduate course costs $3000. How many undergraduate and graduate courses should be taught in the fall so that total faculty salaries are kept to a minimum?
** Please see the attachments for the complete solution **
I have done the problem using Excel QM. Thanks.
The decision variables are
X1 = Number of Undergraduate courses
X2 = Number of ...
This solution illustrates the use of Excel-QM for solving a linear programming problem.