Integer Goal and Nonlinear Programming and Project Management

Assignment: in APA 6th format List the advantages and disadvantages of solving integer programming problems by (a) rounding off and (b) enumeration. How do the three types of integer programming problems differ? Which do you think is most common, and why? What is meant by satisficing, and why is the term often used in conjunction with goal programming? What are deviational variables? How do they differ from decision variables in traditional LP problems? The campaign manager for a politician who is running for reelection to a political office is planning the campaign. Four ways to advertise have been selected: TV ads, radio ads, billboards, and social media advertising buys. The costs of these are $900 for each TV ad, $500 for each radio ad, $600 for a billboard for 1 month, and $180 for each buy on social media (approximately 40,000 unique impressions). The audience reached by each type of advertising has been estimated to be 40,000 for each TV ad, 32,000 for each radio ad, 34,000 for each billboard, and 17,000 for each social media buy. The total monthly advertising budget is $16,000. The following goals have been established and ranked: The number of people reached should be at least 1,500,000. The total monthly advertising budget should not be exceeded. Together, the number of ads on either TV or radio should be at least 6. No more than 10 ads/buys of any one type should be used. Formulate this as a goal programming problem. Solve this using computer software. Which goals are exactly met and which are not? Mick Garcia, a certified financial planner (CFP), has been asked by a client to invest $250,000. This money may be placed in stocks, bonds, or a mutual fund in real estate. The expected return on investment is 13% for stocks, 8% for bonds, and 10% for real estate. While the client would like a very high expected return, she would be satisfied with a 10% expected return on her money. Due to risk considerations, several goals have been established to keep the risk at an acceptable level. One goal is to put at least 30% of the money in bonds. Another goal is that the amount of money in real estate should not exceed 50% of the money invested in stocks and bonds combined. In addition to these goals, there is one absolute restriction. Under no circumstances should more than $150,000 be invested in any one area. Formulate this as a goal programming problem. Assume that all of the goals are equally important. Use any available software to solve this problem. How much money should be put in each of the investment options? What is the total return? Which of the goals are not met?