Question: [ 1 0 ] Angel Consulting is considering 8 projects. Each project has a cost and an associated re - turn. The budget at Angel
Angel Consulting is considering projects. Each project has a cost and an associated re
turn. The budget at Angel is $ Angel would like to choose the set of projects that maximize
the total project return. This data below is provided in the workbook that accompanies this exam.
a Formulate this project selection problem as an integer program. Clearly define your decision
variables, objective function, and constraints.
bExcel Solve this integer program in the Excel workbook. What are the optimal set of
projects to select? What is the total return of your solution? Write down the answers here
and save the answer report in Excel.
c Suppose an additional constraint is added to Angel's problem that requires the choice of at
least two projects out of the projects numbered and Write down this additional con
straint in the integer program using the decision variables you defined With this additional
constraint, will the optimal solution value increase or decrease?
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