As Part of Its Welfare to Work Program, the Georgia

question 43

Essay

As part of its Welfare to Work program, the Georgia legislature has allocated $28,800,000 to a new program designed to get skilled and unskilled workers off welfare.Unskilled workers would be paid $7.20 per hour whereas skilled workers would be paid $12.00 per hour under this program.The goals of the program are: (1) to generate at least 2,000,000 man-hours of work;(2) having at least as many skilled hours as unskilled hours; and, (3) utilize no more than 800,000 skilled hours (beyond that it will be "make work".)
A.Formulate this problem as a preemptive goal programming model.
B.What is the optimal allocation of hours for this situation.

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Definitions:

Prospectus

A formal legal document that provides details about an investment offering to the public, often detailing the assets, risks, and objectives of the offering.

SEC

The Securities and Exchange Commission, a U.S. government agency responsible for enforcing federal securities laws and regulating the securities industry.

Securities Act of 1934

A U.S. law enacted to regulate the secondary trading of securities (stocks, bonds, etc.), establishing rules and procedures to prevent fraud and manipulation.

Underwriting

Underwriters (investment bankers) purchase securities from the issuing company and resell them. Usually, a syndicate of investment bankers is organized behind a lead firm.