Question: Please explain the steps in formulating the answer. Thank you! 4. A business analytics company is considering five projects for the next month. The number

Please explain the steps in formulating the answer. Thank you! 4. A

Please explain the steps in formulating the answer. Thank you!

4. A business analytics company is considering five projects for the next month. The number of business analysts and the number of assistants required for each project, and the expected profit for each project are given below. Formulate a capital budgeting problem that maximizes the company's total profit subject to the following constraints: - Use no more than 25 business analysts - Use no more than 23 assistants - If project 2 is done, then project 4 must be done and vice versa - At least three projects must be selected (a) Define the decision variables. (b) Determine the objective function. What does it represent? (c) Determine all the constraints. What does each constraint represent? Note: Do NOT solve the problem after formulating

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