A bus company believes that it will need the following numbers of bus drivers during each of the next five years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; and 75 drivers in year 5. At the beginning of each year, the bus company must decide how many drivers to hire or fire. It costs $4000 to hire a driver and $2000 to fire a driver. A driver's salary is $10,000 per year. At the beginning of year 1, the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year's requirements and is paid full salary for the current year. a. Determine how to minimize the bus company's salary, hiring, and firing costs over the next five years. b. Use SolverTable to determine how the total number hired, total number fired, and total cost change as the unit hiring and firing costs each increase by the same percentage. Please solve in Excel with set up and formulas.

A bus company believes that it will need the following numbers of bus drivers during each of the next five years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; and 75 drivers in year 5. At the beginning of each year, the bus company must decide how many drivers to hire or fire. It costs $4000 to hire a driver and $2000 to fire a driver. A driver's salary is $10,000 per year. At the beginning of year 1, the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year's requirements and is paid full salary for the current year. a. Determine how to minimize the bus company's salary, hiring, and firing costs over the next five years. b. Use SolverTable to determine how the total number hired, total number fired, and total cost change as the unit hiring and firing costs each increase by the same percentage. Please solve in Excel with set up and formulas.

Operations Research : Applications and Algorithms

4th Edition

ISBN:9780534380588

Author:Wayne L. Winston

Publisher:Wayne L. Winston

Chapter18: Deterministic Dynamic Programming

Section: Chapter Questions

Problem 6RP

See similar textbooks

Similar questions

Amarillo Video Store is planning a promotional give-away for its long-standing customers. If the customer has been a member for 18 months or more he/she will receive a coupon booklet allowing him/her to hire 4 movies for free. If during that same 18 months he/she has hired at least 12 videos, he/she will receive an additional 3 free movie hire vouchers. If the customer’s membership is less than 18 months and he/she has hired at least 12 videos then he/she will receive 2 free movie hire vouchers. All members will receive a Thank You letter and “Yentia Obiaa” music video. Construct a Decision Tree for the above scenario.
A coal mine purchased 3 years ago for $7 million was estimated to contain 4,000,000 tons of coal. During the past 3 years the amount of coal removed was 21,000, 18,000, and 20,000 tons, respectively. The gross income obtained in these 3 years was $257,000 for the first year, $320,000 for the second year, and $340,000 for the third year. What is the cost depletion allowance for year 1.
Al Watan supermarket has hire-purchases scheme for locals and expats. The customers will get the credit facility if they satisfy any of the following conditions: 1- The customer must hold the present job for more than 5 years and reside in the same place at least for 3 years. In this case, the customer will get credit upto rupees 300 omr. 2- The monthly salary of the customer must exceed 1000 omr and must hold the present job for more than 5 years. In this case credit will be given upto rupees 500 omr. 3- The monthly salary must exceed 1000 omr and reside at the same place at least for 3 years. In this case credit will be given upto 500 omr. 4- In the case, the customer?s monthly salary exceeds 1000 omr, holds the present job for more than 5 years and also reside in the same place at least for the 3 years, the credit facility will be upto 1000 omr 5- The credit facility is rejected for all other customers. Prepare a Decision Table for this hire- purchase scheme.
BU School of Witchcraft and Wizardry is a school of magic that sends admission letters only to children with magical abilities. The admissions process for BU School of Witchcraft and Wizardry is as follows:- If both parents of the child have previously studied at BU, they do not need to reply to the admission letter. Otherwise they need to reply to the admissions letter by July 31. If they do not reply by the specified date, they are not accepted to the school. BU has 4 houses that students are sorted into by the sorting hat “Hayri”. These houses are; Gryffindor, Hufflepuff, Ravenclaw and Slytherin. Hayri sorts the students into houses according to 2 characteristics; braveness and intelligence.- If Hayri finds the student to be brave and intelligent, they are sorted into Gryffindor.- If the student is found to only be brave, they are sorted into Slytherin.- If the student is found to only be intelligent, they are sorted into Ravenclaw.- Finally, if they are neither brave nor…
Shamira Laundry has designed a new calculation system for their shop. The price for each type is as follows: 10 Туре Price Clothes RM 15 for 1 kilogram blankets / towels RM 6 for 1 kilogram RM 10 for 1 kilogram comforter Only one type can be washed at a time. This laundry shop also provides discounts to its customers as follow: Total price >= RM30 Discount 10% from total price >= RM20 dan = RM15 dan
An oil and gas exploration firm invested $2,000,000 in drilling for natural gas in a new gas field. The firm's geologist believes the field has the potential to produce gas for many years. The revenue resulting from the gas well the first year after drilling is $600,000; based on previous experiences with similar types of wells, it is expected the annual revenue will decrease at an annual rate of 3%. Likewise, the costs of operating the well the first year totals $100,000; costs are expected to increase at an annual rate of 7%. If the firm's MARR is 17%, how long will it take for the firm to recover its investment? Hint: Using Excel's Goal Seek or SOLVER tool leave cell for the number of years required to recover the investment empty. Click here to access the TVM Factor Table calculator. n = L1 years
The calculation of the bill will be used the following rules: -The bill will be exempted for usage 20m3 and below.-For the next 15m3 is charged at 50cents/m3.-The next 20m3 is charged at 70cents for every additional m3.-The next 25m3 is charged at $1.00 for every additional m3.-Any further m3 is charged at $1.20 for every additional m3.In this case, the input can be up to 200 m3. The system only accepts the numeric(non-negative) values as the input. Other than the accepted value will be rejected by the system with an error message. The output of the system will be the total bill charged. write out equivalence partition (EP) for the above specification.
Workers at a particular company are paid at a rate of 150.00 per hour for up to 40 hours of work at hour over that is paid at a rate of 1.5 times the normal rate. From the worker’s gross pay, 14% is withheld for income tax, 5% withheld for social security system tax, and 13% is withheld for state income tax. An additional 10% is withheld if the worker has 3 or more covered dependents to cover extra cost of health insurance. Draw the flowchart and write or code the C program that outputs the worker’s gross pay, each withholding and the net take home pay for the week.
Workers at a particular company are paid at a rate of 150.00 per hour for up to 40 hours of work at hour over that is paid at a rate of 1.5 times the normal rate. From the worker’s gross pay, 14% is withheld for income tax, 5% withheld for social security system tax, and 13% is withheld for state income tax. An additional 10% is withheld if the worker has 3 or more covered dependents to cover extra cost of health insurance. Draw the flowchart and code the C program that outputs the worker’s gross pay, each withholding and the net take home pay for the week.
The Livewright Medical Supplies Company has a total of 12 salespeople it wants to assign to three regionsthe South, the East, and the Midwest. A salesperson in the South earns $600 in profit per month for the company, a salesperson in the East eams $540, and a salesperson in the Midwest earns $375. The southern region can have a maximum assignment of 5 salespeople. The.company has a total of $750 per day available for expenses for all 12 salespeople. A salesperson in the South has average expenses of $80 per day, a salesperson in the East has average expenses of$70_pér day, and a salesperson in the Midwest has average daily expenses of $50. The company wants to detemine the number of salespeople to assign to each region to maximize profit. a. Formulate an integer programming model for this problem. b. Solve this model by using the computer.
A school dance committee is to consist of 2 freshmen, 3 sophomores, 4 juniors, and 5 seniors. If 6 freshmen, 7 sophomores, 9 juniors, and 7 seniors are eligible to be on the committee, in how many ways can the committee be chosen? Your answer is:
During the tax season, every Friday, the J&J accounting firm provides assistance to people who prepare their own tax returns. Their charges are as follows: If a person has low income (<= 25,000) and the consulting time is less than or equal to 30 minutes, there are no charges; otherwise, the service charges are 40% of the regular hourly rate for the time over 30 minutes. For others, if the consulting time is less than or equal to 20 minutes, there are no service charges; otherwise, service charges are 70% of the regular hourly rate for the time over 20 minutes. (For example, suppose that a person has low income and spent 1 hour and 15 minutes, and the hourly rate is $70.00. Then the billing amount is 70.00 X.40 X (45/60) = $21.00.) Instructions Write a program that prompts the user to enter yearly income, the hourly rate, the total consulting time. The program should output the billing amount. Your program must contain a function that takes as input the hourly rate, the total…