Question
(25 marks) A license to shoot a moose costs $115 for residents and $920 for non-residents. The government must decide how many licenses to issue
(25 marks) A license to shoot a moose costs $115 for residents and $920 for non-residents.
The government must decide how many licenses to issue in both categories.
There is a demand for up to 30,000 resident licenses, and up to 12,000 nonresident
licenses; these are system constraints. The government has several goal
priorities which in descending order of importance are (i) earning at least $12,006,000
in revenue (ii) issue at least 80% of licenses to residents, and (iii) limit the total
number of licenses to 40,000.
(a) Formulate this goal programming model.
(b) Give the algebraic model for the first sub-problem, and solve this using LINGO
or the Excel Solver
(c) Embedding the solution from (b), give the algebraic model for the second subproblem,
and solve this using LINGO or the Excel Solver.
(d) Embedding the solution from (c), give the algebraic model for the third subproblem,
solve this using LINGO or the Excel Solver, and state the overall
solution in words.
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