Korey is a business student at State U. She has just completed a course in decision models, which had a midterm exam, a final exam, individual assignments, and class participation. She earned an 86% on the midterm, 94% on the final, 93% on the individual assignments, and 85% on participation. The benevolent instructor is allowing his students to determine their own weights for each of the four grade components—of course, with some restrictions:
The participation weight can be no more than 15%
The midterm weight must be at least twice as much as the individual assignment weight.
The final exam weight must be at least three time as much as the individual assignment weight.
The weights of the four components must be at least 10%.
The weights must sum to 1.0 and be nonnegative.
Develop a model that will yield a valid set of weights to maximize Korey’s score for the course.
Implement your model on a spreadsheet and find a good solution using only your intuition.
Find an optimal solution using Solver.