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Mars Incorporated: Online procurement. With the data (items in the auction and rst round bids received) given in Exhibit 1, formulate a binary (0/1) integer
Mars Incorporated: Online procurement. With the data (items in the auction and rst round bids received) given in Exhibit 1, formulate a binary (0/1) integer optimization problem to help Mars determine the cost-minimizing set of winning bids from the rst round bids received. Remember that Mars must procure each item, but can overprocure items as well if it turns out to be cheaper. Clearly indicate how you de ne the decision variables, objective function, and constraints in your model. Use Solver to nd the solution. Business 36106 Assignment 4 (b) [3 points] In a separate worksheet, modify your model by adding the constraint that no bidder wins more than 1 bid. In your report, describe the changes you made in model from part (a). (c) [3 points] Go back to the model from part (a), and now add the constraint that no bidder wins contracts totalling more than $2100. Show the model from this part in a separate worksheet, and decribe the changes you made over part (a) in your report
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