Specialty Software is considering 10 projects. The years each project will be developed, the number of programmers needed each year for each project, and the revenue (exclusive of labor costs) from each project are listed in the file P06_94.xlsx. For example, project 1, if undertaken, will require 37 programmers in each of the first four years. The company currently employs 100 programmers. At the beginning of each year, it can hire as many as 80 programmers. If any are hired in a given year, a training program must be run at a cost of $5 million, regardless of the number hired. Programmers are paid a salary of $50,000 per year.
a. How can Specialty Software maximize the net profit from these projects? (Hint: First use IF functions to create a matrix of programmers required each year for each project.)
b. Assuming that 10% of all programmers quit at the end of each year, how does the solution change? (Don’t worry about noninteger numbers of workers.)
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