Fred Salter Has a Budget of $40,000 to Prepare His

question 9

Essay

Fred Salter has a budget of $40,000 to prepare his house for sale.Fred's yard needs work, and the kitchen and bathroom could both use improvement.Fred has estimated the costs and expected return (increase in the value of his house) of different options.The cost and return are expressed in thousands of dollars.Fred wants to use dynamic programming to solve the problem. $\begin{array}{ll}\text { ROOM}&\text {PROJECT}&\text { COST}&\text { RETURN} \\\text { YARD}&\text { Seed lawn \& plant shrubs } & 2&2 \\&\text { Re-sod } & 5&8 \\&\text { Plant trees } & 15 &20\\\text { KITCHEH}&\text { Reface cabinets } & 10 &12\\&\text { New cabinets } & 25&40 \\&\text { Tile Floor } & 15&20 \\\text { BATHR00M}&\text { Refinish } & 5&10 \\&\text { Replace tile } & 10&18 \\&\text { New toilet, tub, \& plumbing } & 20&31\end{array}$
A.Define the stage variables.
B.Define the state variables.
C.Define the decision variables.
D.Define the stage return values.
E.Define the optimal value function.
F.Define the boundary condition.
G.Define the stopping rule.
H.Define the recurrence relation.
I.Solve the problem.

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