Question: Fox Enterprises is considering six projects for possible construction over the next four years. Fox can undertake any of the projects partially or completely. A

Fox Enterprises is considering six projects for

Fox Enterprises is considering six projects for possible construction over the next four years. Fox can undertake any of the projects partially or completely. A partial undertaking of a project will prorate both the return and cash outlays proportionately. The expected (present value) returns and cash outlays for the projects are given in the following table. Cash outlay($1000) Project Year 1 Year 2 Year 3 Year 4 Return ($1000) 10.5 324.00 1 8.3 10.2 7.2 12.3 9.2 14.4 12.6 14.2 10.5 10.1 7.8 2.2 9.5 5.6 7.5 83 69 24 3.1 4.2 5.0 358.00 177.50 148.00 182.00 12350 5.1 Available funds (31000) 60.0 70.0 35.0 20.0 Formulate the problem as a linear program, and determine the optimal project mix that maximizes the total return using Excel Solver. Ignore the time value of money

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