Business, 21.05.2020 00:16 jojomgarcia01

The owners of the company have raised $30 million of investment capital for these projects. They now want to select the combination of projects that will maximize their total estimated long-run pro t without investing more than $30 million. There are three other restrictions: 1) if both project 1 and project 3 are selected, then project 5 cannot be selected; 2) project 2 can only be selected if project 4 is selected; 3) if project 3 is selected, then at least one of project 1 or project 4 should be selected. Formulate this problem as a binary integer program. Write explicitly what the decision variables are, what the objective function is, and what the constraints are. Remark: In your solution, please underline the key elements like below, and write your answers in the corresponding places (can enlarge the spacing between the elements in your solution).

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The owners of the company have raised $30 million of investment capital for these projects. They now...

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