Solved

A Company Needs to Hire Workers to Cover a 7

question 56

Essay

A company needs to hire workers to cover a 7 day work week. Employees work 5 consecutive days with 2 days off. The demand for workers by day of the week and the wages per shift are:
$\begin{array} { l c c l r } \text { Days af Week } & \text { Workers Requirad } & \text { Shift } & \text { Days off } & \text { Wage } \\\hline \text { Sunday } & 54 & 1 & \text { Sun \& Man } & 900 \\\text { Monday } & 50 & 2 & \text { Man \& Tue } & 1000 \\\text { Tuesday } & 36 & 3 & \text { Tue \&Wed } & 1000 \\\text { Wednesday } & 38 & 4 & \text { Wed\&Thur } & 1000 \\\text { Thursday } & 42 & 5 & \text { Thur \& Fri } & 1000 \\\text { Friday } & 40 & 6 & \text { Fri \& Sat } & 900 \\\text { Saturday } & 48 & 7 & \text { Sat \& Sun } & 850\end{array}$ $\text { MIN: } \quad 900 \mathrm{X}_{1}+1000 \mathrm{X}_{2}+1000 \mathrm{X}_{3}+1000 \mathrm{X}_{4}+1000 \mathrm{X}_{5}+900 \mathrm{X}_{6}+850 \mathrm{X}_{7}$

$\text { Subject to:}$
$\begin{array}{l}\mathrm{X}_{2}+\mathrm{X}_{3}+\mathrm{X}_{4}+\mathrm{X}_{5}+\mathrm{X}_{6} \geq 54 \\\mathrm{X}_{3}+\mathrm{X}_{4}+\mathrm{X}_{5}+\mathrm{X}_{6}+\mathrm{X}_{7} \geq 50 \\\mathrm{X}_{4}+\mathrm{X}_{5}+\mathrm{X}_{6}+\mathrm{X}_{7}+\mathrm{X}_{1} \geq 36 \\\mathrm{X}_{5}+\mathrm{X}_{6}+\mathrm{X}_{7}+\mathrm{X}_{1}+\mathrm{X}_{2} \geq 38 \\\mathrm{X}_{6}+\mathrm{X}_{7}+\mathrm{X}_{1}+\mathrm{X}_{2}+\mathrm{X}_{3} \geq 42 \\\mathrm{X}_{7}+\mathrm{X}_{1}+\mathrm{X}_{2}+\mathrm{X}_{3}+\mathrm{X}_{4} \geq 40 \\\mathrm{X}_{1}+\mathrm{X}_{2}+\mathrm{X}_{3}+\mathrm{X}_{4}+\mathrm{X}_{5} \geq 48 \\\mathrm{X}_{\mathrm{i}} \geq 0 \text { and integer }\end{array}$

Based on this ILP formulation of the problem and the optimal solution (X₁, X₂, X₃, X₄, X₅, X₆) = (2, 10, 16, 6, 14, 8, 6) what values should go in cells B5:J13 of the following Excel spreadsheet?
$A company needs to hire workers to cover a 7 day work week. Employees work 5 consecutive days with 2 days off. The demand for workers by day of the week and the wages per shift are: \begin{array} { l c c l r } \text { Days af Week } & \text { Workers Requirad } & \text { Shift } & \text { Days off } & \text { Wage } \\ \hline \text { Sunday } & 54 & 1 & \text { Sun \& Man } & 900 \\ \text { Monday } & 50 & 2 & \text { Man \& Tue } & 1000 \\ \text { Tuesday } & 36 & 3 & \text { Tue \&Wed } & 1000 \\ \text { Wednesday } & 38 & 4 & \text { Wed\&Thur } & 1000 \\ \text { Thursday } & 42 & 5 & \text { Thur \& Fri } & 1000 \\ \text { Friday } & 40 & 6 & \text { Fri \& Sat } & 900 \\ \text { Saturday } & 48 & 7 & \text { Sat \& Sun } & 850 \end{array} \text { MIN: } \quad 900 \mathrm{X}_{1}+1000 \mathrm{X}_{2}+1000 \mathrm{X}_{3}+1000 \mathrm{X}_{4}+1000 \mathrm{X}_{5}+900 \mathrm{X}_{6}+850 \mathrm{X}_{7} \text { Subject to:} \begin{array}{l} \mathrm{X}_{2}+\mathrm{X}_{3}+\mathrm{X}_{4}+\mathrm{X}_{5}+\mathrm{X}_{6} \geq 54 \\ \mathrm{X}_{3}+\mathrm{X}_{4}+\mathrm{X}_{5}+\mathrm{X}_{6}+\mathrm{X}_{7} \geq 50 \\ \mathrm{X}_{4}+\mathrm{X}_{5}+\mathrm{X}_{6}+\mathrm{X}_{7}+\mathrm{X}_{1} \geq 36 \\ \mathrm{X}_{5}+\mathrm{X}_{6}+\mathrm{X}_{7}+\mathrm{X}_{1}+\mathrm{X}_{2} \geq 38 \\ \mathrm{X}_{6}+\mathrm{X}_{7}+\mathrm{X}_{1}+\mathrm{X}_{2}+\mathrm{X}_{3} \geq 42 \\ \mathrm{X}_{7}+\mathrm{X}_{1}+\mathrm{X}_{2}+\mathrm{X}_{3}+\mathrm{X}_{4} \geq 40 \\ \mathrm{X}_{1}+\mathrm{X}_{2}+\mathrm{X}_{3}+\mathrm{X}_{4}+\mathrm{X}_{5} \geq 48 \\ \mathrm{X}_{\mathrm{i}} \geq 0 \text { and integer } \end{array} Based on this ILP formulation of the problem and the optimal solution (X1, X2, X3, X4, X5, X6) = (2, 10, 16, 6, 14, 8, 6) what values should go in cells B5:J13 of the following Excel spreadsheet?$

Differentiate between equal pay for equal work and pay equity concepts.

Understand the advantages of skill-based pay in workforce flexibility.

Recognize job redesign as a tool for aligning pay with long-term productivity.

Assess the components included in total compensation and their valuation.

Definitions:

International Trade

The exchange of goods and services between countries, allowing economies to grow by specializing in the production of goods they can produce most efficiently.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price level in a given period.

World Price

The global market price of a commodity, determined by worldwide supply and demand.

Quantity Supplied

How much of a certain good or service suppliers are ready and able to make available for purchase at a specific price point.