Question
Texas Electronics Company (TEC) is contemplating an R&D program encompassing 8 major projects. The company is constrained from embarking on all projects by the number
Texas Electronics Company (TEC) is contemplating an R&D program encompassing 8 major projects. The company is constrained from embarking on all projects by the number of available scientists (40) and the budget for projects ($300,000). Following are the resource requirements and the estimated profit for each project:
What is the maximum profit, and which projects should be selected?
Respond with step-by-step Excel instructions ANSWER WITH AND WITHOUT binary or integer constraints.
| Project | Expense ($000) | Scientists reqd | Profit ($000) |
| 1 | 60 | 7 | 36 |
| 2 | 110 | 9 | 82 |
| 3 | 53 | 8 | 29 |
| 4 | 47 | 4 | 16 |
| 5 | 92 | 7 | 56 |
| 6 | 85 | 6 | 61 |
| 7 | 73 | 8 | 48 |
| 8 | 65 | 5 | 41 |
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Global Strategy
Authors: Mike W. Peng
5th Edition
0357512367, 978-0357512364
