A research and development company considers ten possible new research projects. The company

is constrained from working on all new projects by the number of available management scientists

$(50)$ and the currently available budget for new R&D projects $($$$600,000).$ Partial projects are not

allowed. The resource requirements and the estimated profit for each project are shown below.

$2\mathrm{.}1$ Formulate an optimization model for this problem.

$2\mathrm{.}2$ Solve your model using its Excel implementation. Name the corresponding worksheet tab

"Projects".

$**$PLEASE SHOW ALL CALCULATIONS IN EXCEL $($I$.$E$.$ FORMULAS AND ANSWERS$)$