A Research Director Must Pick a Subset of Research Projects $\quad$

question 51

Essay

A research director must pick a subset of research projects to fund over the next five years. He has five candidate projects, not all of which cover the entire five-year period. Although the director has limited funds in each of the next five years, he can carry over unspent research funds into the next year. Additionally, up to $30K can be carried out of the five-year planning period. The following table summarizes the projects and budget available to the research director.
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\underline{\text { Project Funds Required (in \( \$ 000 \) )}}$$\quad$$\quad$$\quad$$\text { Benefit}$
$\begin{array}{cccccccc}\text { Project } & 1 & 2 & 3 & 4 & 5 & \text { (in } \$ 000 \text { s) } \\\hline 1 & \$ 70 & \$ 40 & \$ 30 & \$ 15 & \$ 15 & \$ 160 \\2 & \$ 82 & \$ 35 & \$ 20 & \$ 20 & \$ 10 & \$ 190 \\3 & \$ 55 & \$ 10 & \$ 10 & \$ 5 & & \$ 125 \\4 & \$ 69 & \$ 17 & \$ 15 & \$ 12 & \$ 8 & \$ 139 \\5 & \$ 75 & \$ 20 & \$ 25 & \$ 30 & \$ 45 & \$ 174\\\text { Budget } & \$ 225 \mathrm{~K} &\$ 60 \mathrm{~K} & \$ 60 \mathrm{~K} & \$ 50 \mathrm{~K} &\$ 50 \mathrm{~K} \end{array}$
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Definitions:

Visual Preference

A term referring to the tendency of individuals to pay more attention or show favoritism towards certain visual stimuli over others.

Stimulus

An environmental condition that elicits a response.

Inborn Responses

Behavioral reactions that are genetically programmed, requiring no prior experience or learning to occur.

Specific Stimuli

Particular environmental or internal triggers that elicit responses from organisms or psychological systems.