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MBA Scholarship An MBA program is reviewing the applications of 16 prospective students for scholarships funded by a wealthy alumnus. They will...

MBA Scholarship

An MBA program is reviewing the applications of 16 prospective students for scholarships

funded by a wealthy alumnus.

They will select exactly 9 students to receive the scholarship.

To

simplify data entry, the students are identified by letters from A to P.

Table 1 below shows the

parameters relevant to the selection process

that

include sex, undergraduate major, years of

postgraduate employment experience and GMAT score.

Table 1. Scho

larship selection parameters

Student Code

SEX

Major

Years

GMAT

A

F

OTHER

11

633

B

M

ENG

8

639

C

F

A&S

7

620

D

F

BUS

5

632

E

F

ENG

1

640

F

M

ENG

7

642

G

F

OTHER

4

642

H

M

A&S

6

579

I

F

ENG

2

609

J

M

BUS

7

644

K

M

BUS

10

620

L

M

ENG

9

585

M

M

OTHER

9

565

N

M

BUS

8

586

O

F

A&S

9

614

P

M

OTHER

4

620

Although aware that not all can be met, the selection committee has six

goals

for the selection

of the

9 students.

1.

Approximately the same number of males and females.

a.

HINT

: Treat this as a single goal that the number of males selected is as close

to 4.5 as possible

b.

HINT

: Do not force any deviational c

ell to be an integer.

2.

The average number of years of postgraduate employment

at least 7.5

3.

The average GMAT score at least 630

4.

At least 4 Engineering undergraduate majors.

5.

At least 3 Business undergraduate majors.

6.

At least 3 Arts and Sciences undergraduate majors.

Develop a SOLVER enabled spreadsheet based on

goal programming

to determin

e which

students should be selected in order

to minimize a weighted sum of percentage deviations.

Comments and Hints:

Use only 0's and 1's for the under and over weights.

For this problem, the decision maker wants to avo

id being under each of the 6 goals.

In addition,

the decision maker does not mind going over any goal except

for the goal

related to gender.

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