Solve for and interpret the lagrangian multiplier

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Reference no: EM13245956

The Wellness Center is an organization providing help to distressed students on campus during the two weeks exam period at the end of every semester. You've been hired as a business consultant to help the Center develop a hiring policy so that it can provide the most meaningful student service (S) possible. You've determined that service can be described as a function of Medical (M) and Counseling (C) staff input as follows: S = M + 0.5C + 0.5MC - C2
The staff budget for the Wellness Center for the coming semester is $1,200.00. Each member of the medical staff costs $60 and each member of the counseling staff costs $30.

(a) Determine the optimal combination of medical and counseling staff for the Wellness Center.

(b) Solve for and interpret the Lagrangian multiplier.

Reference no: EM13245956

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