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Professor Allister teaches two sections of finance and two sections of business statistics what a lucky professor! Combined there are 160 final exams to be

Professor Allister teaches two sections of finance and two sections of business statistics what a lucky professor! Combined there are 160 final exams to be graded. Professor Allister has two graduate assistants, Steve and Megan, who will grade the final exams. There is a 3 day period between the time the test is administered and when the final grades must be posted. During this period, Steve has 15 hours available and Megan has 15 hours available to grade the exams. It takes Steve an average of 7.2 minutes to grade an exam, and it takes Megan 12 minutes to grade an exam; however, Steves exams will have errors that require Professor Allister to ultimately regrade 10% of the exams, while only 6% of Megans exams will require regrading. Professor Allister wants to know how many exams to assign to each graduate assistant to grade in order to minimize the number of exams to regrade. (Define your variables as: Let S = # exams marked by Steve, let M = # of exams marked by Megan) a. Formulate the problem algebraically as a linear programming model. (5 marks) b. Solve this problem using Excel. (5 marks)

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