A company has $1,00,000 to invest in new R&D projects. ?The company wants to determine what set of projects should be selected. ?
The following table summarizes the initial cost and revenue potential for each of the projects.?
|Project||Initial Cost||Expected Revenue|
a.) Formulate an LP model for this problem with the objective of maximizing total profit.
b.) Implement your model in a spreadsheet and solve it
c.) What is the optimal solution?
This question was answered on: Sep 18, 2020
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