Consider a capital budgeting problem with seven projects represented by binary (0 or 1) variables X1, X2, X3, X4, X5, X6, X7. Write a constraint modeling the situation in which at most 4 projects from the 7 can be selected.

Consider a capital budgeting problem with seven projects represented by binary (0 or 1) variables X1, X2, X3, X4, X5, X6, X7. Write a constraint modeling the situation in which at most 4 projects from the 7 can be selected.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 76P

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.

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Consider a capital budgeting problem with seven projects represented by binary (0 or 1) variables X₁, X₂, X₃, X₄, X₅, X₆, X₇.

Write a constraint modeling the situation in which at most 4 projects from the 7 can be selected.

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