Question: Q 2 . An electronics company is considering which research and development projects to select. The following are the resource requirements and the estimated profit

Q2. An electronics company is considering which research and development projects to select. The following are the resource requirements and the estimated profit for each project:
\table[[Project,Expense ($),Scientists Required,Estimated Profit ($)],[1,70,000,7,360,000],[2,110,000,9,820,000],[3,50,000,8,290,000],[4,45,000,4,160,000],[5,90,000,7,560,000],[6,85,000,6,610,000],[7,70,000,8,480,000],[8,65,000,5,410,000]]
The number of available scientists is 40 and the budget available for these research and development projects is $300,000.
Furthermore, if project 2 is selected, project 5 must also be selected (but not vice versa). Projects 3 and 4| are mutually exclusive (both cannot be selected).
Formulate an integer programming model to determine which projects should be selected to maximize profit.
 Q2. An electronics company is considering which research and development projects

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!