A developer specializing in tiny homes made from reclaimed shipping containers has decided to subcontract five components of the homes. Five companies (A, B, C, D, and E) are interested in getting this business, but none can handle more than one subcontract. The bids made by the companies for the various subcontracts (in $1,000s) are as follows Bids by Companies (in $1,000s) for Various Subcontracts
Company
Component A B C D
1 185 225 193 207
2 200 190 175 225
3 330 320 315 300
4 375 389 425 445

Assuming all the companies can perform each subcontract equally well, to which company should each subcontract be assigned if the home manufacturer wants to minimize payments to the subcontractors?
a. Formulate an LP model for this problem.
b. Create a spreadsheet model for this problem, and solve it using Solver.
c. What is the optimal solution?