Solution-Formulate an lp model for problem

Formulate an lp model for problem

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Reference no: EM131319783

A company has $1,000,000 to invest in new R&D projects. The company wants to determine what set of projects should be selected.

[Deterministic Scenario] The following table summarizes the initial cost and revenue potential for each of the projects:

Project	Initial Cost	Expected Revenue
1	$500,000	$1,500,000
2	$500,000	$1,500,000
3	$500,000	$1,800,000
4	$500,000	$1,800,000

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?

Reference no: EM131319783

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Formulate an lp model for problem

Reference no: EM131319783

Reference no: EM131319783

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