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I’ve been able to find the optimal solution and resulting profit with excel solver. But can’t figure out how to set up the problem with POM QM

I’ve been able to find the optimal solution and resulting profit with excel solver. But can’t figure out how to set up the problem with POM QM

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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I’ve been able to find the optimal solution and resulting profit with excel solver. But can’t figure out how to set up the problem with POM QM
Upload your completed POM-QM file for the Texas Consolidated Electronics Company problem. Upload Choose a File
Transcribed Image Text:Upload your completed POM-QM file for the Texas Consolidated Electronics Company problem. Upload Choose a File
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). Table below lists the resource requirements and the estimated profit for each project. The company wants to decide which of those projects need to be taken on to maximize the total profit for the company. Formulate an integer programming model for this problem. Define x₁, where i=1, 2, 3, 8 such that if x=1, project i would be taken on; and if x=0, project i would not. Define Z as the total profit ($1,000,000). Which of the following objective function is correct? *** Expense ($1,000s) Management Scientists Required Estimated Profit ($1,000,000s) Project I $ 60 7 $0.36 2 110 9 0.82 3 53 8 0.29 4 47 4 0.16 3 92 7 0.56 6 85- 6 0.61 7 73 0.48 8 65 5 0.41 Maximize Z-.36x1+.82x2+.29x3+.16x4+.56x5+.61x6+.48x7+.41x8 O Maximize Z=x1+x2+x3+x4+x5+x6+x7+x8 O Maximize Z-60x1+110x2+53x3+47x4+92x5+85x6+73x7+65x8 O Maximize Z=(.36+.82+.29+.16+.56+.61+.48+.41)(x1+x2+x3+x4+x5+x6+x7+x8)
Transcribed Image Text: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). Table below lists the resource requirements and the estimated profit for each project. The company wants to decide which of those projects need to be taken on to maximize the total profit for the company. Formulate an integer programming model for this problem. Define x₁, where i=1, 2, 3, 8 such that if x=1, project i would be taken on; and if x=0, project i would not. Define Z as the total profit ($1,000,000). Which of the following objective function is correct? *** Expense ($1,000s) Management Scientists Required Estimated Profit ($1,000,000s) Project I $ 60 7 $0.36 2 110 9 0.82 3 53 8 0.29 4 47 4 0.16 3 92 7 0.56 6 85- 6 0.61 7 73 0.48 8 65 5 0.41 Maximize Z-.36x1+.82x2+.29x3+.16x4+.56x5+.61x6+.48x7+.41x8 O Maximize Z=x1+x2+x3+x4+x5+x6+x7+x8 O Maximize Z-60x1+110x2+53x3+47x4+92x5+85x6+73x7+65x8 O Maximize Z=(.36+.82+.29+.16+.56+.61+.48+.41)(x1+x2+x3+x4+x5+x6+x7+x8)
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