Note This problem requires the use of a linear programming application such as Solver or Analytic Solver from Microsoft Excel A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses The firm's goal is to maximize the net present value of its decision while not spending more than its currently available capital Maximize 30 x 1 30 x 2 25 x 3 35 x 4 subject to 10 x 1 12 x 2 5 x 3 13 x 4 15 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 x j 1, if location j is selected 0, if otherwise Solve this problem to optimality and answer the following questions Which of the warehouse locations will will not be selected What is the net present value of the optimal solution How much of the available capital will be spent

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Question: Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver from Microsoft Excel. A firm has prepared the

Note: This problem requires the use of a linear programming application such as Solver or Analytic Solver from Microsoft Excel.

A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses. The firm's goal is to maximize the net present value of its decision while not spending more than its currently available capital.

Maximize 30x₁ + 30x₂ + 25x₃ + 35x₄

subject to 10x₁ + 12x₂ + 5x₃ + 13x₄ 15 {Constraint 1}

x₁ + x₂ + x₃ + x₄ 2 {Constraint 2}

x₁ + x₂ 1 {Constraint 3}

x₁ + x₃ 1 {Constraint 4}

x₂ = x₄ {Constraint 5}

x_j = {1, if location j is selected; 0, if otherwise

_{Solve this problem to optimality and answer the following questions:}

Which of the warehouse locations will/will not be selected?
What is the net present value of the optimal solution?
How much of the available capital will be spent?

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