You have been contacted to help select the best combination of projects to maximize the Net Present Value subject to the capital investment limit of $32 million.

Production Projects A B C D E F Estimated Profit ($million) $26 $21 $18 $30 $28 $22 Capital required ($million) $11 $8 $14 $19 $19 $13

1) Formulate a Binary Integer Programming (BIP) model on a spreadsheet.

Consider a small Dil production rm with 6 competing oil production projects. A F. The table below shows the estimated long-term prot [Net Present Value] for each project as well as the amount of investment capital required to start the project You have been contacted to help select the best combination of projects to maximize the Net Present Value subject to the capital investment limit of $32 million. Production Projects A B C D E F EStiIIltEd Prot [$1Illiun] $26 $21 $13 $30 $23 $22 L'apital required [$million'] $11 $3 $14 $1'iiI $19I $13 '1} Formulate a Binary Integer Programming [3le model on a spreadsheet