In: Economics
Corsouth Mortgage Associates is a large home mortgage firm in
the Southeast. It has a pool
of permanent and temporary computer operators who process mortgage
accounts, including
posting payments and updating escrow accounts for insurance and
taxes. A permanent operator
can process 220 accounts per day, and a temporary operator can
process 140 accounts per day.
On average, the firm must process and update at least 6,300
accounts daily. The company has
32 computer workstations available. Permanent and temporary
operators work 8 hours per day.A permanent operator averages about
0.4 error per day, whereas a temporary operator averages
0.9 error per day. The company wants to limit errors to 15 per day.
A permanent operator is paid
$120 per day, whereas a temporary operator is paid $75 per day.
Corsouth wants to determine the
number of permanent and temporary operators it needs to minimize
cost. Formulate and solve
an integer programming model for this problem and compare this
solution to the non-integer
solution.
In Problem 26, Corsouth Mortgage Associates is considering hiring
some hourly, part-time computer
operators in addition to its permanent and temporary operators. A
part-time operator can
process 12 accounts per hour, averages 0.16 error per hour, and is
paid $4.50 per hour. Corsouth
wants to know the number of permanent and temporary employees it
should use, plus the number
of part-time hours it should arrange for. Formulate and solve a
mixed integer model for this
problem.
Hello, I need this question solved before 7 pm, it would be grateful if you give the solution to this question like other questions,
1. Formulation and solution of LP problem is as follows
2. In this case, another variable is introduced and problem is formulated as below