Note: This Problem Requires the Use of a Linear Programming $$x _ { j } = \left\{ \begin{array} { l } 1 , \text { if location } j \text { is selected } \\0 , \text { otherwise }\end{array} \right.$$

question 63

Multiple Choice

Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver.
The university administration would like to add some additional parking locations. To make everyone happy, they would like each building to be within a 5 minute walk of one set of new parking spaces (the spaces will be added in blocks of 10 parking spaces) . The university is considering six locations for the new parking spaces, but would like to minimize the overall cost of the project. In addition to the walking time requirement, the university would like to add at least 40 new parking spaces (at least 4 blocks of 10) . To help with the decision, the management science department formulated the following linear programming model:
Min 400x1 + 375x2 + 425x3 + 350x4 +410x5 + 500x6
s.t. x1 + x2 + x5 + x6 ? 1 {Residence Hall A constraint}
X1 + x2 + x3 ? 1 {Residence Hall B constraint}
X4 + x5 + x6 ? 1 {Science building constraint}
X1 + x4 + x5 ? 1 {Music building constraint}
X2 + x3 + x4 ? 1 {Math building constraint}
X3 + x4 + x5 ? 1 {Business building constraint}
X2 + x5 + x6 ? 1 {Auditorium constraint}
X1 + x4 + x6 ? 1 {Arena constraint}
X1 + x2 + x3 + x4 + x5 + x6 ? 4 {Total locations constraint} $$x _ { j } = \left\{ \begin{array} { l } 1 , \text { if location } j \text { is selected } \\0 , \text { otherwise }\end{array} \right.$$
Set up the problem in Excel and find the optimal solution. What is the cost of the optimal set of locations?

• A) 1,445
• B) 1,535
• C) 1,655
• D) 1,715
• E) 1,865

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Definitions:

Comparative Financial Statement

Financial statements that present information for more than one period, facilitating the analysis of trends over time.

Analysis Period

The specific time frame over which financial or operational performance is analyzed and evaluated.

Base Period

A specific time period used as a benchmark or point of reference for comparing financial or economic data over time.

Horizontal Analysis

A financial analysis technique that compares line items in financial statements over multiple periods to identify trends.