Refer to TMCs project selection problem presented in this chapter. In the solution shown in Figure, The

Refer to TMC’s project selection problem presented in this chapter. In the solution shown in Figure, The probability of success for project 4 is only 0.3488. Thus, project 4 is almost twice as likely to fail as succeed if it is assigned only three engineers. As a result, management might want to add a constraint to this problem to ensure that if a project is selected, it must have at least a 50% chance of succeeding.

a. Reformulate TMC’s problem so that if a project is selected, it must have at least a 50% chance of succeeding.

b. Implement your model in a spreadsheet.

c. What is the optimalsolution?

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3-39als Compatibity Model Microsoft Ece tHomenertPe Layout FormulesDatsReme dd ins Di TMC Corporation Select? Engineers Linking Probability Prob. of NPV if Expected Startup 6 Pro Cost 05634 $750.00 $ 0.0000 $120.00 3.1 2.5 4.5 5.6 8.2 06132 100.00 $674 53 8.5 $325.00 50.00 $200.00 0 5714$900.00 $514 29 $490.00 0.2632 $400.00 S105.26 $125.00 $710.00 $240.00 otal S1,716.61 $1 650.00 Start-up Funds Available $1.700.00 5422.54 19 23 12 10 0.0000 50.00 13 14 15 ー++d Ready Total Used Total Available 25 Prolect selection Analysis Pranabity Data Probabltrow.