A consulting firm has five projects to consider. Each project will require time and capital in the next two quarters, as shown in the following table. Revenues from each project are also shown. Project Time in quarter 1 Time in quarter 2 Capital in quarter 1 Capital in quarter 2 Revenue A 5 8 5000 4500 12000 B 3 12 3500 2500 10000 C 7 5 1800 800 15000 D 2 3 2000 1900 5000 E 15 1 3000 2500 20000 Develop a model to determine which projects should be selected to maximize total revenue. There is a time limit of 24 in the first quarter and 25 in the second quarter. Available capital is $6000 and $5000 in quarters 1 and 2 respectively. Projects B and C cannot be done together. Thus, if Project B is selected, Project C cannot be selected. Determine the optimal revenue.
A consulting firm has five projects to consider. Each project will require time and capital in the next two quarters, as shown in the following table. Revenues from each project are also shown. Project Time in quarter 1 Time in quarter 2 Capital in quarter 1 Capital in quarter 2 Revenue A 5 8 5000 4500 12000 B 3 12 3500 2500 10000 C 7 5 1800 800 15000 D 2 3 2000 1900 5000 E 15 1 3000 2500 20000 Develop a model to determine which projects should be selected to maximize total revenue. There is a time limit of 24 in the first quarter and 25 in the second quarter. Available capital is $6000 and $5000 in quarters 1 and 2 respectively. Projects B and C cannot be done together. Thus, if Project B is selected, Project C cannot be selected. Determine the optimal revenue.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter6: Optimization Models With Integer Variables
Section: Chapter Questions
Problem 94P
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A consulting firm has five projects to consider. Each project will require time and capital in the next two quarters, as shown in the following table. Revenues from each project are also shown.
| Project | Time in quarter 1 | Time in quarter 2 | Capital in quarter 1 | Capital in quarter 2 | Revenue |
| A | 5 | 8 | 5000 | 4500 | 12000 |
| B | 3 | 12 | 3500 | 2500 | 10000 |
| C | 7 | 5 | 1800 | 800 | 15000 |
| D | 2 | 3 | 2000 | 1900 | 5000 |
| E | 15 | 1 | 3000 | 2500 | 20000 |
Develop a model to determine which projects should be selected to maximize total revenue. There is a time limit of 24 in the first quarter and 25 in the second quarter. Available capital is $6000 and $5000 in quarters 1 and 2 respectively. Projects B and C cannot be done together. Thus, if Project B is selected, Project C cannot be selected.
Determine the optimal revenue.
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