Note This problem requires the use of a linear programming application such as Solver or Analytic Solver A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses The firms goal is to maximize the net present value of their decision while not spending more than their currently available capital Max 20 x 1 30 x 2 10 x 3 15 x 4 s t 5 x 1 7 x 2 12 x 3 11 x 4 21 Constraint 1 x 1 x 2 x 3 x 4 2 Constraint 2 x 1 x 2 1 Constraint 3 x 1 x 3 1 Constraint 4 x 2 x 4 Constraint 5 Set up the problem in Excel and find the optimal solution Which locations are selected A) Location 1 B) Location 2 C) Location 4 D) Locations 2 and 4 E) Locations 1 and 3 '1, if location is selected 0, otherwise

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Question: Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver. A firm has prepared the following binary integer

Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver. A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses. The firms goal is to maximize the net present value of their decision while not spending more than their currently available capital. Max 20x₁ + 30x₂ + 10x₃ + 15x₄ s.t. 5x₁ + 7x₂ + 12x₃ + 11x₄ 21 {Constraint 1} x₁ + x₂ + x₃ + x₄ 2 {Constraint 2} x₁ + x₂ 1 {Constraint 3} x₁ + x₃ 1 {Constraint 4} x₂ = x₄ {Constraint 5} Note: This problem requires the use of a linear Set up the problem in Excel and find the optimal solution. Which locations are selected? A) Location 1 B) Location 2 C) Location 4 D) Locations 2 and 4 E) Locations 1 and 3

'1, if location is selected 0, otherwise

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