Solved by verified expert :I have a Term Project that I would to ask your help on. Can you review the attachments and let me know if you can accept this project. I would need it in less than two weeks. A week and one half to be specific. Please review and let me know your thoughts.Attached is the term project guidelines along with the case, as well as, 1. sample project paper, 2. sample project spreadsheet, and 3. project PPT presentation.************************************************************************* Term Project: Students are required to complete a Term
Project that will involve problem analysis, model development, and use of
appropriate software to solve the problem. For the project, students will
complete the Julia’s Food Booth problem at the end of Chapter 9. Each student
will submit (1) a written report on the project, (2) a spreadsheet containing
the computer solution, and (3) a visual presentation (e.g., PowerPoint). **
– Report with Spreadsheet (10% of course grade). You are required to submit
a written business report about the assigned exercise. This report is to
provide all the details in the problem analysis and solution and provide a
permanent, written example of the work you have done to solve the problem for
the business. Assume that your pay for the toil you put into this project is
dependent on the success of these deliverables. The report should consist of
two parts:
1. Microsoft Word document including the material below: Problem statement Discussion of model
formulation and the computer solution Evaluation and answers to the questions
in the topic (if appropriate)
2. Microsoft Excel spreadsheet file used to solve the model.
Presentation (6% of course grade) you are required to prepare a Microsoft
PowerPoint presentation of adequate length to explain the problem, solution,
and evaluation of the solution (generally, 10-15 slides). The purpose of the
presentation is to explain the problem, solution, and evaluation of your
project to your colleagues or senior management. Do not simply repeat the
material in the written report or avoid too much detail. Instead, assume this
is the key feature of your explanation of what your team has developed to solve
the problem. The management team of your contracting business will watch your presentation
and use the written report for back-up details as desired. Much of their
decision on the project will be based on this presentation and how effectively
you sell your solution.
Julia’s Food Booth
Julia Robertson is a senior at tech, and she’s investigating different ways
to finance her final year at school. She is considering leasing a food booth
outside the tech stadium at home football games. Tech sells out every home
game, and Julia knows, from attending the games herself, that everyone eats a lot
of food. She has to pay $1,000.00 per game for a booth, and the booths are not
very large. Vendors can sell either food or drinks on Tech property, but not
both. Only the Tech athletic department concession stands can sell both inside
the stadium. She thinks slices of cheese pizza, hot dogs, and barbecue
sandwiches are the most popular food items among fans and so these are the
items she would sell.
Most food items are sold during the hour before the game starts and during
half time; thus it will not be possible for Julia to prepare the food while she
is selling it. She must prepare the food ahead of time and then store it in a
warming oven. For $600.00 she can lease a warming oven for the six-game home
season. The oven has 16 shelves, and each shelf is 3 feet by 4 feet. She plans
to fill the oven with the the three food items before the game and then again
before half time. Julia has negotiated with a local pizza delivery company to
deliver 14-inch cheese pizza twice each game-2 hours before the game and right
after the opening kickoff. Each pizza will cost $6.00 and will include 8
slices. She estimates it will cost her $.45 for each hot dog and $.90 for each
barbecue sandwich if she makes the barbecue herself the night before. She
measured a hot dog and found it takes up about 16 square inches of space,
whereas a barbecue sandwich takes up about 25 square inches. She plans to sell
a slice of pizza and a hot dog for $1.50 apiece and a barbecue sandwich for
$2.25. She has $1,500.00 in cash available to purchase and prepare the food
items for the first home game; for the remaining five games she will purchases
her ingredients with money she has made from the previous game.
Julia has talked to some students and vendors who have sold food at
previous football games at Tech as well at other universities. From this she
has discovered that she can expect to sell at least as many slices of pizza as
hot dogs and barbecue sandwiches combined. She also anticipates that she will
probably sell at least twice as many hot dogs as barbecue sandwiches. She
believes that she will sell everything she can stock and develop a customer
base for the season if she follows these general guidelines for demand.
If Julia clears at least $1,000 in profit for each game after paying all
her expenses, she believes it will be worth leasing the booth.
A. Formulate and solve a linear
programming model for Julia that will help you advise her if she should lease
the booth.
B. If Julia were to borrow some more
money from a friend before the first game to purchase more ingredients, could
she increase her profit? If so, how much should she borrow and how much
additional profit would she make? What
factor constrains her from borrowing even more money than this amount
(indicated in your answer to the previous question)?
C. When Julia looked at the solution
in (A), she realized that it would be physically difficult for her to prepare
all the hot dogs and barbeque sandwiches indicated in this solution. She believes she can hire a friend of her to
help her for $100 per game. Based on the
results in (A) and (B), is this something you think she could reasonably do and
should do?
D. Julia seems to be basing her analysis
on the assumption that everything will go as she plans. What are some of the uncertain factors in the
model that could go wrong and adversely affect Julia’s analysis? Given these uncertainties and the results in
(A), (B), and (C), what do you recommend that Julia do?*******************************************************************************
THE TAMPA BAYS
Free Agent Hiring Plan
A Linear Programming Optimization Plan to Select
the Best Players
By
Student Name(s)
The Tampa Bays
Free Agent Hiring Plan
CURRENT SITUATION
The Tampa Bays is a new professional basketball franchise in
Tampa, Florida. The team’s general
manager, Jerry West, and coach, Phil South, are trying to develop a roster of
players. They drafted seven players from
a pool to which the other teams in the league each contributed two players. However, the general manager and coach see the
players coming from other teams to be less talented. They feel that the only way to make their new
team a winner will be the free agents who are currently available on the
market. The team is well under the
salary cap, and the owner has made $50 million per year available for them to
sign players.
The coach and general manager have put together the attached
list of free agents, with important statistics for each, including their
rumored asking price in terms of annual salary:
Free agents that need to be signed 5
Signed group need to average 75 points (15 per player)
Signed group need to average 40 rebounds (8 per
player)
Signed group need to average 26 assists
Signed group need to average 200 minutes (40 per
player)
No more than two front court players
No more than two back court players
SCOPE OF WORK
The project team will develop of
roster of five free agents who will as a group meet the objective of the
organization at the minimum cost and contain the following information:
Team Roster
Free Agents Optimal
Model Solution
Average Rebounds Comparison
of both Models
Average Assists Average
Minutes
Number of Front Court Players Number
of Back Court
Players
SOLUTION MODEL
To provide the Tampa Bays with the best selection of five
free agents that as a group will meet the objective of the franchise at the
minimum cost, the project team will use a linear programming model along with
the solution capabilities of Microsoft Excel and the tool, Solver. The solution model will contain the following
variables:
xn = money (millions)
fa = free agent
ap = Average Points
ar = Average Rebounds
aa = Average Assists
am = Average Minutes
sc = Salary Cap
fc = Front
Court
bc = Back Court
z = total cost
The total cost of production using the provided data and
variables is:
Min Z=8.2×1+6.5×2+5.2×3+16.4×4+14.3×5+23.5×6+4.7×7+7.1×8+15.8×9+26.4×10+
19.5×11+8.6×12
With the following constraints
fa=5
4.7ap+12.6ap+13.5ap+27.1ap+18.1ap+22.8ap+9.3ap+10.2ap+16.9ap+28.5ap+24.8ap+11.3ap>=80
4.4ar+10.6ar+8.7ar+7.1ar+7.5ar+9.5ar+12.2ar+12.6ar+2.5ar+6.5ar+8.6ar+12.5ar>=40
9.3aa+2.1aa+1.7aa+4.5aa+5.1aa+2.4aa+3.5aa+1.8aa+11.4aa+1.3aa+6.9aa+3.2aa>=26
40.3am+34.5am+29.3am+42.5am+41am+38.5am+31.5am+44.4am+42.7am+38.1am+42.6am+39.5am>=200
fcx1=2
bcx1=3
xi = 0 or 1; 0 if not selected and 1 if selected,
Non-negative results
ar, ap, aa, am>=0
SOLVER RESULTS
Using the above information, along with the constraints, the
following five players were selected with the appropriate number of front court
players and back court players:
Players
Selected
Mack
Madonna
Silk Curry
Ramon Dion
Joe
Eastcoast
Antoine
Roadman
Limitation
5 free
agents
5
Avg
Points>80
80
Avg
Rebounds>40
40
Avg
Assists>25
26
Avg Minutes
200
# of Front
and Back End Players
Front Court
2
Back Court
3
In order to meet all of the required limitations, the
franchise would have to spend $51.5 million dollars.
SOLVER RESULTS
The Tampa Bays owner has $50 million to spend to sign a
group of players. The owner wants to
meet the objective at minimum cost. We developed an optimal solution to select
a group of players and minimize cost. In
order to meet all of the constraints, it will be necessary for the franchise to
spend $51.5 million. Since the money was
not sufficient to sign the players, it was necessary to change the limitations
and see if we maximize the average points. This would help us stay under the $50 million
available for expenditure. We developed
an optimal solution to select a group of players that would maximize the points
and stay below the salary cap. The
optimal solution showed us that if the team maximizes the average points we
would not be able to meet the criteria of average assists and average minutes for
the group of players. However, the
changes are slight and the added projected number of rebounds should enhance
scoring.
2nd SOLUTION – ALTERNATIVE
The owner has said he only has $50 million to obtain free
agents. Does he have the additional $1.5 million to sign the group of
players? If the money is not available,
it will be necessary to change the limitations on the formula to maximize the
finances available. To do this average
salary cap will be used as a constraint and the objective is to maximize the
average points of the group.
SOLVER RESULTS
Using the information along with the new limitations, the
following players were selected as the best group that will maximize the points
for the franchise:
Players
Selected
Darrell
Boards
1.00
Silk Curry
1.00
Ramon Dion
1.00
Joe Eastcoast
1.00
Antoine
Roadman
1.00
Limitation
5 free
agents
5
Salary Cap
<= 50M
49.5
Avg
Rebounds>=40
46.5
Avg Assists
>=25
15.2
Avg Minutes
>=200
191.7
# of Front
and Back End Players
Front Court
2
Back Court
3
Score
81.5
As you can see for the franchise to spend only 50M and
maximize points scored, they would not be able to meet the criteria of Average
Assists > 25 constraint or the Average Minutes of >=200 constraint. The
score criterion in the previous situation was exceeded and increase in rebounds
will help with the scoring and assists. The loss of less than 8 minutes overall
or less than 2 minutes per player should not be a major problem.
If the owner cannot provide the additional $1.5 million for
the first solution, we recommend the adoption of the second solution.*****************************************************************
