A loan processing operation that processes an average of 7 loans per day. The operation has a design capacity of 15 loans per da
1 answer:
You might be interested in
Answer:
The minimum cost ( Z ) will be = $636 per day
number of permanent operators = 6
number of temporary operators = 3
Explanation:
considering the information given: the company has ten (10) workstations and also uses both permanent and temporary operators below is the detailed job that can be achieved with this resources
Orders per day
permanent operator ; 76
temporary operator ; 53
company average : (minimum ) 600
Errors per day
permanent operator ; 1.3
temporary operator ; 4.1
average allowable error : maximum ( 24 )
pay per day ; permanent ( $81 ), temporary ( $50 )
creating an integer program model for this problem of finding the number of permanent and temporary operators to hire to minimize costs
Assume number of permanent operators to be X1 and temporary operators to be X2
cost of operators per day would be ( Z ) = 81 X1 + 50 X2 ( first constraint )
workstations to be used by operators = X1 + X2 ≤ 10 (second constraint )
Total number of processed order by operators = 76 X1 + 53 X2 ≥ 600 (third)
allowable errors by the company = 1.3 X1 + 4.1 X2 ≤ 24 ( fourth constraint )
The number of operators must be an Integer = X1 , X2 ≥ 0 ( fifth constraint )
create an excel linear program using both the details given and also the applying the constraints created.
The minimum cost ( Z ) will be = $636 per day
number of permanent operators = 6
number of temporary operators = 3
attached is a snapshot of the final excel linear program
