Question: Zero-one integer programming can be utilized in real life situations such as capital rationing problems, optimizing investment returns, and assisting in planning, production, and transportation
Zero-one integer programming can be utilized in real life situations such as capital rationing problems, optimizing investment returns, and assisting in planning, production, and transportation (Hayes 2023). A common problem that I face in my own life that I can use the zero-one integer programming is when deciding whether to bring an umbrella when leaving home based on the weather forecast. I could let x be a binary variable, where x = 1 indicates bringing an umbrella, and x = 0 indicates not bringing an umbrella. The objective function would be to minimize the discomfort of getting wet or carrying an unnecessary umbrella. Constraints: If the weather forecast predicts rain (Rain = 1), then x must be set to 1 (bring an umbrella). If the weather forecast predicts no rain (rain = 0), then x must be set to 0 (don't bring an umbrella)
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