3. LP modeling: Project Selection: No handwriting for model and outputs! No grade for handwriting! A company wants to select project(s) to run. There are 5 possible project candidates, P1, P2, P3, P4 and P5. Following table shows the project cost, its anticipated profit (units in $1000) upon completion of the project and its required labor hours for each project. PI P2 P3 P4 P5 Expected Cost (unit in 500 600 1000 500 700 $1000) Expected Profit (unit in 1800 1600 3500 1300 1700 $1000) Expected labor hours 15 10 20 8 11 required (unit in 1000 hrs) The project manager wants to select project(s) to make maximum profit. However, the company should consider the following limits: Budget limit: $1,000,000. Labor hours limit: 20,000 hours. 3. a) Please formulate this problem as a LP to max the profit. For full credits, first, define your decision variables, then objective function and constraints. Hint: The decision variables should be binary variables. For example, P1 = a binary variable; if the project 1 is selected = 1, otherwise = 0. Be careful on units. . You may need to use a keyword (INT for Lindo, BIN for Solver) for the binary variables. 3. b) Use Lindo or Solver to solve this problem. What is the max profit? Which project(s) need to be performed to max the company's profit