Question
Generate data randomly from the uniform distribution in the intervals specified in the following table. Table 1. Projects -GreenCatCorporation Expected Profit Next Year Anticipated Cost
Generate data randomly from the uniform distribution in the intervals specified in the following table.
Table 1.
Projects -GreenCatCorporation | |||||
Expected Profit Next Year | Anticipated Cost | Expected Civil Engineering Hours | Expected Electrical Engineering Hours | Expected Management Engineering Hours | |
Project 1 | 1.5-2.5 | 0.6-0.8 | 371 | 230 | 114 |
Project 2 | 3-5 | 0.8-1.2 | 527 | 389 | 256 |
Project 3 | 4-6 | 2.3-2.7 | 569 | 347 | 219 |
Project 4 | 7-8 | 2.5-2.9 | 782 | 539 | 356 |
Project 5 | 9-11 | 4-6 | 669 | 401 | 171 |
Project 6 | 0.5-1.5 | 0.25-0.5 | 228 | 182 | 131 |
Project 7 | 10-14 | 3.5-4.5 | 730 | 576 | 235 |
Project 8 | 13-17 | 6-9 | 981 | 706 | 539 |
Project 9 | 2-4 | 0.6-0.8 | 196 | 127 | 71 |
Project 10 | 5-7 | 2.5-3.5 | 841 | 546 | 485 |
Project 11 | 15-19 | 3-4 | 712 | 526 | 123 |
Project 12 | 3-5 | 1.5-2.5 | 572 | 446 | 325 |
Project 13 | 4-6 | 1.5-1.9 | 502 | 356 | 308 |
Project 14 | 4-6 | 2.2-2.8 | 589 | 353 | 357 |
Table 2.
Projects -GreenCatCorporation | |||||
Expected Profit Next Year | Anticipated Cost | Expected Civil Engineering Hours | Expected Electrical Engineering Hours | Expected Management Engineering Hours | |
Project 1 | 1-3 | 0.5-0.9 | 371 | 230 | 114 |
Project 2 | 2-6 | 0.5-1.5 | 527 | 389 | 256 |
Project 3 | 3-5 | 1.5-3.5 | 569 | 347 | 219 |
Project 4 | 6-10 | 2-3.4 | 782 | 539 | 356 |
Project 5 | 6-14 | 3-7 | 669 | 401 | 171 |
Project 6 | 0.5-1.5 | 0.25-.075 | 228 | 182 | 131 |
Project 7 | 7-17 | 3-5 | 730 | 576 | 235 |
Project 8 | 11-19 | 5-10 | 981 | 706 | 539 |
Project 9 | 1.5-4.5 | 0.4-1.0 | 196 | 127 | 71 |
Project 10 | 4-8 | 1.5-4.5 | 841 | 546 | 485 |
Project 11 | 12-22 | 2-5 | 712 | 526 | 123 |
Project 12 | 2-6 | 1-3 | 572 | 446 | 325 |
Project 13 | 3-7 | 1.2-2.2 | 502 | 356 | 308 |
Project 14 | 2-8 | 1.5-3.5 | 589 | 353 | 357 |
Consider the following constraints:
S2-1 We have a budget of only $20,000,000.
S2-2 Project 2, Project 6 and Project 7 are to be performed at 3 different locations and require specialized equipment. We can only perform one of these projects (i.e., if we select Project 6, we cannot initiate Project2 or Project 7).
S2-3 Project 1 and Project 4 are to be initiated together (i.e., either BOTH be initiated or neither are to be initiated).
S2-4 We have a limit of 5,000 hours for Civil Engineering.
S2-5We have a limit of 3,500 hours for Electrical Engineering.
S2-6 We have a limit of 2,000 hours for Management Engineering.
Build your model in Excel and solve using SOLVER.
Provide the following:
1 - Generate 5 data tables randomly using the information provided in the above Table 1.
2 - Which projects were selected in each case? Did the recommendations vary? How?
Note: Consider only Binary Solution (0,1)
3 - Generate 5 more tables using the information provided in Table 2.
4 - Which projects were selected in each case? Did the recommendations vary? How?
5 - Provide a summary table for the results in questions (2) and (4) and discuss your findings. Do the results in (2) and (4) vary? If so, why?
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