Question: please formulate an optimization function to choose optimal projects to maximize the profit (use excel) A contactor needs to select projects from a set of

please formulate an optimization function to

please formulate an optimization function to choose optimal projects to maximize the profit (use excel)

A contactor needs to select projects from a set of construction projects to bid. Each project requires different levels of resources to prepare the bid and complete the construction (see the table below). The contractor has limited resources: a total of 50 person-weeks is available for preparing the bid; 30,000 hours of skilled labor are available during the period of projects as well as three cranes. Thousands of Time to Crane Required Profit IF Hours of Project # Prepare Bid for the Project? Skilled Labor Project Won (person-weeks) Needed (1:yes; 0: no) ($1000) 1 8 6 1 80 2 12 5 0 110 3 13 4 1 100 4 5 11 9 7 8 0 0 90 70 6 7 3 1 80 7 8 4 1 90 8 8 5 1 60

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