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Operations Research and Profit Maximization

In a particular engineering project team, four design jobs can be performed by any of the five resident experts. The profit generated by each individual resident expert for each design job is presented in the following table:

Resident Experts
Jobs Tom Robert John Albert Chris
1 $ 10,000.00 $ 12,000.00 $ 16,000.00 $ 10,000.00 $ 14,000.00
2 $ 14,000.00 $ 13,000.00 $ 15,000.00 $ 12,000.00 $ 16,000.00
3 $ 16,000.00 $ 12,000.00 $ 12,000.00 $ 10,000.00 $ 18,000.00
4 $ 13,000.00 $ 16,000.00 $ 11,000.00 $ 11,000.00 $ 16,000.00

You are required to select resident experts for the available jobs such that the profit generated is maximized by formulating and setting up the appropriate model to find the best solution.

Directions:
Provide the written formulation in a Word document. (Provide a complete description of the decision variables used along with their units and also label the constraints mentioned in the problem as completely as possible.

The Excel set-up should provide clearly labeled values used for the decision variables, constraints, and objective function.

Solution Preview

Please find attached detailed help on your question. The response consists of a word file that provides math formulation. The Excel file demonstrates how to solve such problems.

Profit ($)
Job Tom Robert John Albert Chris
1 10000 12000 16000 10000 14000
2 14000 13000 15000 12000 16000
3 16000 12000 12000 10000 18000
4 13000 16000 11000 11000 16000
Problem description: Four jobs needs to be performed. There are five engineers who can do either of the jobs and generate profit. The jobs, engineers and profit are presented in the following ...

Solution Summary

This solution involving maximizing profit through assignment of employees. The problem is addressed to Integer Programming and solved using Excel.

$2.19