Suppose you are a manager of an event management company. Your team is responsible for running various events. Each event, depending on its nature, runs for varied lengths. Your company policy is such that you charge a flat amount for each event your team is managing (irrespective of the duration a particular event). The size of the team that you are running is such that your team can manage to run one event at a particular time i.e. your company is unable to run multiple events at a particular time. More formally, if there are two events i and j, the events are mutually compatible (i.e. you can select both i and j) if s,>f, or s,>f, where s, and f, are the start and finish time of the event i. You are required to select events that your team is going to manage so that you can maximize the profit for your company. The following table shows some candidate events for your company to manage for a particular day. Find out which events would you select such that you can maximize the profit for your company. Note that you can select events only if they are compatible i.e. they do not have overlapping running time. Also note that there can be multiple possibilities for maximizing the profit. You need to find one set of events only i 1 2 3 5 7 8 10 3 1 5 7 8 6 3 8 7 4 7 8. 11 9. 10 11 2.
Suppose you are a manager of an event management company. Your team is responsible for running various events. Each event, depending on its nature, runs for varied lengths. Your company policy is such that you charge a flat amount for each event your team is managing (irrespective of the duration a particular event). The size of the team that you are running is such that your team can manage to run one event at a particular time i.e. your company is unable to run multiple events at a particular time. More formally, if there are two events i and j, the events are mutually compatible (i.e. you can select both i and j) if s,>f, or s,>f, where s, and f, are the start and finish time of the event i. You are required to select events that your team is going to manage so that you can maximize the profit for your company. The following table shows some candidate events for your company to manage for a particular day. Find out which events would you select such that you can maximize the profit for your company. Note that you can select events only if they are compatible i.e. they do not have overlapping running time. Also note that there can be multiple possibilities for maximizing the profit. You need to find one set of events only i 1 2 3 5 7 8 10 3 1 5 7 8 6 3 8 7 4 7 8. 11 9. 10 11 2.
Operations Research : Applications and Algorithms
4th Edition
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Wayne L. Winston
Chapter23: Simulation With The Excel Add-in @risk
Section23.1: Introduction To @risk: The News Vendor Problem
Problem 4P
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Suppose you are a manager of an event management company. Your team is responsible for
running various events. Each event, depending on its nature, runs for varied lengths. Your
company policy is such that you charge a flat amount for each event your team is managing
(irrespective of the duration a particular event). The size of the team that you are running is such
that your team can manage to run one event at a particular time i.e. your company is unable to
run multiple events at a particular time. More formally, if there are two events i and j, the events
are mutually compatible (i.e. you can select both i and j) if s>f, or s,>f, where s, and
f, are the start and finish time of the event i.
You are required to select events that your team is going to manage so that you can maximize the
profit for your company.
The following table shows some candidate events for your company to manage for a particular
day. Find out which events would you select such that you can maximize the profit for your
company. Note that you can select events only if they are compatible i.e. they do not have
overlapping running time. Also note that there can be multiple possibilities for maximizing the
profit. You need to find one set of events only
i
1
2
4
8
10
3
2
1
5
7
8
6
3
9.
8
f.
4
7
11
9.
10
11
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