A Large Accounting Firm Has Three Auditors

question 95

Essay

A large accounting firm has three auditors.Each can work up to 180 hours during the next month,during which time three projects must be completed.Project 1 takes 140 hours,project 2 takes 150 hours,and project 3 takes 170 hours.The amount per hour that can be billed for assigning each auditor to each project is given in the table below: Determine how to maximize total billings during the next month by formulating the company's problem as a transportation model.

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Definitions:

Normal Random Variable

A random variable that has a distribution defined by a normal curve, characterized by its mean and variance.

Mean

A measure of central tendency calculated by dividing the sum of all values in a dataset by the number of values.

Standard Normal Random Variable

A normal distribution with a mean of 0 and standard deviation of 1, used as a reference to determine probabilities for normal distributions.

Negative Value

A value less than zero, representing quantities opposite in direction or position to a reference point.