Formulate an integer programming model for this problem
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 45P
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Question
Globex Investment Capital Corporation owns six companies that have the following estimated
returns (in millions of dollars) if sold in one of the next 3 years:
Year Sold
(Estimated return, $1,000,000s)
Company 1 2 3
1 14 18 23
2 9 11 15
3 18 23 27
4 16 21 25
5 12 16 22
6 21 23 28
To operating funds, the company must sell at least $24 million worth of assets in year 1, $28
million in year 2, and $32 million in year 3. Globex wants to develop a plan for selling these
companies during the next 3 years to maximize return.
(a) Formulate an integer programming model for this problem.
returns (in millions of dollars) if sold in one of the next 3 years:
Year Sold
(Estimated return, $1,000,000s)
Company 1 2 3
1 14 18 23
2 9 11 15
3 18 23 27
4 16 21 25
5 12 16 22
6 21 23 28
To operating funds, the company must sell at least $24 million worth of assets in year 1, $28
million in year 2, and $32 million in year 3. Globex wants to develop a plan for selling these
companies during the next 3 years to maximize return.
(a) Formulate an integer programming model for this problem.
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