Question
Assigned problem. (i) Formulate the problem as a Linear Programming problem. (ii) Use Excel Solver to arrive at the solution. (iii) Run the sensitivity analysis
Assigned problem. (i) Formulate the problem as a Linear Programming problem. (ii) Use Excel Solver to arrive at the solution. (iii) Run the sensitivity analysis and prepare a detailed report on your understanding of the sensitivity report. The reports length should not be more than 4 pages. In the report, also embed the excel sheet where the problem is solved using excel. Only submit a word document. In the report, one also needs to paste the final output including the sensitivity report. Question: A pharmaceutical company is conducting clinical trials for a new drug and needs to perform quality control inspections. They have three categories of inspectors: A, B, and C. The company must inspect at least 10,000 drug samples every 8-hour day. Inspector A can inspect samples at a rate of 60 per hour with an accuracy of 98%. Inspector B can inspect samples at a rate of 45 per hour with an accuracy of 96%. Inspector C can inspect samples at a rate of 40 per hour with an accuracy of 94%. The hourly wage rates for the inspectors are 400 for Inspector A, 300 for Inspector B, and 250 for Inspector C. Additionally, each time a faulty drug sample passes through scrutiny, it costs the company 100 for further investigation and potential legal consequences. There are 20 Inspector A, 15 Inspector B, and 25 Inspector C available for selection. The company aims to minimize the total costs of inspection and errors while meeting the minimum inspection requirement.
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