An MBA student classifies the subjects in her academic curriculum into two categories: quantitative (e.g., Business Modeling, Corporate Finance), and non-qua ntitative (e.g., Organizational Theory, Business Negotiation). She believes that using a professional each hour spent revising a quantitative subject will improve her final exam grade by four percent. For non-quantitative subjects, that figure (for a separate professional) is six percent. The professional for the quantitative subjects charges $50 per hour, whereas that for non-quantitative subjects charges $ 35 per hour. Both professionals deliver their services only in whole-numbered hours. The MBA student has t he following personal requirements. • Her combined percentage improvement for both course catego ries must be at least 50 percent. • She has other commitments in life, and therefore stipulates a maximum of 10 hours of study for her finals.
Develop a model to minimize the total financial cost of her fina l exam preparation.
Use the following decision variables:
Number of hours to engage quantitative professional: h q
Number of hours to engage non-quantitative professional: h nq