Practical Exercise #2
Business Management 2321 – XXXXX Semester 20XX
Due at XXXXXX on XXXXXXXX
Decision Analysis - Attached are three problems similar to those done in class. Solve the Problems working through pages 2-5. Transfer your answers to either the provided output sheet or excel file and submit both files to Carmen before XXXXXXX.
Case Study Requirements:
1. Cover sheet, page 1, from this document.
· All team member names must be TYPED (last name.#, first name) in alphabetical order. No more than 4 members to a group; your assigned group is available on Carmen.
· A watermark with one student's name should be placed across the document/excel sheet. The name chosen should be the student's last name that comes first in alphabetical order. The watermark should be in the following format: first name last name.#.
· Filling out the cover sheet acknowledges that each member attests the work submitted was completed only by members of the group (i.e. if anyone copied from another group and submitted it to the group, each member of the group is guilty of plagiarism).
2. Final Submission.
· Up to 25 percentage points will be deducted for “non-professional” reports (i.e. neatness).
· If the assignment is incomplete or if the grader feels a poor effort was made, the entire assignment will receive a 0 (zero).
· The answers in the output sheet must be TYPED (not hand written) in the boxes provided (page 6).
3. Submit 1 WORD document containing the cover sheet (1 page) and the output sheet from problem 3 (1 page). Submit 1 EXCEL file containing problems 1 and 2.
4. Your EXCEL file name will be of the format “BusMGT2321 PE2 Lastname”, using the last name of the first person alphabetically in your group
Business Management 2321 – Practical Exercise #2
DO NOT SUBMIT THIS PAGE WITH YOUR EXERCISE
Problem 1 – Store Staffing
While perusing Tanger outlet mall you decide to stop inside the Brooks Brothers Factory Store. Inside the store you overhear the store General Manager complaining that the new corporate scheduling software has errors, and keeps scheduling extra workers, causing unnecessary extra labor costs. You also hear him claim that that his annual bonus is directly correlated to labor savings, and that last year the software assigned daily labor at a cost more than $800, resulting in a bonus that was $10,000 lower than what he could have earned.
Remembering that you learned how to formulate staffing problems in your Business Analytics class, you approach the manager and offer to write a linear program to minimize his labor costs, for a small fee, of course. The manager’s eyes light up at the thought of the extra $10,000 bonus, and agrees to pay you $2,000 if you can logically attain a solution to his guidelines. The guidelines are listed in the below tables. Formulate the linear program with the decision variables being limited to integers to earn your reward.
Minimum # of employees...