Question: Question 1: Integer Programming (25 Points) The Texas Consolidated Electronics Company is contemplating a research and development program encompassing eight research projects. The company is
Question 1: Integer Programming (25 Points) The Texas Consolidated Electronics Company is contemplating a research and development program encompassing eight research projects. The company is constrained from embarking on all projects by the number of available management scientists (40) and the budget available for R&D projects ($300,000). Further, if project 2 is selected, project 5 must also be selected (but not vice versa). Following are the resource requirements and the estimated profit for each project: Project 1 2 3 4 5 6 7 8 Expense ($1,000s) $ 60 100 53 47 92 85 73 65 Management Scientists Required 7 9 8 4 7 6 8 5 Estimated Profit ($1,000,000s) $0.36 0.82 0.29 0.16 0.56 0.61 0.48 0.41 a. Define the decision variables. (3 Points) b. Develop the objective function. (3 Points) c. Write the constraints. (9 Points) d. Solve the problem in Excel. (10 Points: Decision variables section: 1 points, O.F. Section: 1 points, Constraints section: 3 points, Solver: 5 points)
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