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Q1 A fourth-year engineering student is seeking part-time jobs to get work experience and financial income. The student can set aside 300 hours for the planning period in which she wants to work. As a consequence of the interviews, the student received four employment offers. These works are composed of multiple tasks. She can choose to work for any number of tasks of one or more works. In the table below, required time the student should spend on each of these tasks, the number of tasks she may do for each of these works, and the earnings she will get if she accomplishes each task once are given. Work Type # of tasks Required time per task (hrs) Fee per Task ( Dollarx 100) A 2 100 20 B 2 50 10 4 30

Q1 A fourth-year engineering student is seeking part-time jobs to get work experience and financial income. The student can set aside 300 hours for the planning period in which she wants to work. As a consequence of the interviews, the student received four employment offers. These works are composed of multiple tasks. She can choose to work for any number of tasks of one or more works. In the table below, required time the student should spend on each of these tasks, the number of tasks she may do for each of these works, and the earnings she will get if she accomplishes each task once are given. Work Type # of tasks Required time per task (hrs) Fee per Task ( Dollarx 100) A 2 100 20 B 2 50 10 4 30

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Q1 A fourth-year engineering student is seeking part-time jobs to get work experience and financial income. The student can set aside 300 hours for the planning period in which she wants to work. As a consequence of the interviews, the student received four employment offers. These works are composed of multiple tasks. She can choose to work for any number of tasks of one or more works. In the table below, required time the student should spend on each of these tasks, the number of tasks she may do for each of these works, and the earnings she will get if she accomplishes each task once are given. Work Type Required time per task (hrs) # of tasks Fee per Task ( Dollarx 100) A 100 20 В 2 50 10 4 30 7 3 20 3 а. The student wants to find out which work(s) to select and number tasks she will do in order to earn the most amount of money. Formulate a dynamic programming recursion that maximizes the student's total earnings from their work selection decisions (Define State, Stage, Decision, Recursion formula, and Solution procedure). And solve the model manually. b. What would be the solution if she only has 200 hours to devote to these works?
Transcribed Image Text:Q1 A fourth-year engineering student is seeking part-time jobs to get work experience and financial income. The student can set aside 300 hours for the planning period in which she wants to work. As a consequence of the interviews, the student received four employment offers. These works are composed of multiple tasks. She can choose to work for any number of tasks of one or more works. In the table below, required time the student should spend on each of these tasks, the number of tasks she may do for each of these works, and the earnings she will get if she accomplishes each task once are given. Work Type Required time per task (hrs) # of tasks Fee per Task ( Dollarx 100) A 100 20 В 2 50 10 4 30 7 3 20 3 а. The student wants to find out which work(s) to select and number tasks she will do in order to earn the most amount of money. Formulate a dynamic programming recursion that maximizes the student's total earnings from their work selection decisions (Define State, Stage, Decision, Recursion formula, and Solution procedure). And solve the model manually. b. What would be the solution if she only has 200 hours to devote to these works?
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