Please set up the solution in your Excel workbook as a separate worksheet.

You work as the business analyst of a construction management firm. The firm is considering ten possible projects to invest in during the next fiscal year. The required investment amounts [$M] and the anticipated net earnings [$M] of these construction projects are shown below.

Project	1	2	3	4	5	6	7	8	9	10
Investment	6	8	5	10	7	12	9	14	16	11
Earnings	9	11	8	13	10	16	12	19	20	15

The company plans to allocate a budget of $65 million to spend on capital projects in the next fiscal year. Your goal is to find the optimized selection of projects that maximize the total anticipated earnings, subject to the given capital budget constraint.

a) Assume first that you could invest an arbitrary continuous amount of money in any of the projects. Find the best capital budgeting plan for this scenario, by solving the corresponding model in Excel. What sort of useful information can you receive from solving this problem?

b) Next, consider the more realistic assumption that a construction project is either chosen and carried out fully, or not chosen at all. Set up and solve the corresponding model. Compare the solution to the solution received in a).

c) Next, you are informed that there are some restrictions on the project selection procedure.

Projects 2, 3 and 4 cannot be chosen together.

Projects 8 and 9 cannot be chosen together.

If Project 3 is chosen, then Project 5 also has to be selected.

Add these constraints to your model developed in b), and resolve it. Compare the new solution to the solution received in b).