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In the MBA program at a prestigious university in the Pacific Northwest,students bid for electives in the second year of their program.Each student has 100 points to bid (total)and must take two electives.There are four electives available: Management Science,Finance,Operations Management,and Marketing.Each class is limited to 5 students.The bids submitted for each of the 10 students are shown in the table below. (a)Formulate this problem as an assignment problem by constructing an appropriate cost table.(b)Reformulate this assignment problem as an equivalent transportation problem by constructing the appropriate parameter table.(c)Formulate and solve a spreadsheet model for this problem.d)Does the resulting solution in part (c)seem like a fair assignment? (e)Which alternative objectives might lead to a fairer assignment?
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