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Tower Engineering Corporation is considering undertaking several proposed projects for the next fiscal year. The projects, the number of engineers and the number of support personnel required for each project, and the expected profits for each project are summarized in the following table: Formulate an integer program that maximizes Tower's profit subject to the following management constraints:
1)
Use no more than 175 engineers
2)
Use no more than 150 support personnel
3)
If either project 6 or project 4 is done, both must be done
4)
Project 2 can be done only if project 1 is done
5)
If project 5 is done, project 3 must not be done and vice versa
6)
No more than three projects are to be done.
Memory Biases
The tendency for memory to be distorted by previous experiences, desires, or the current emotional state.
Representativeness Heuristic
A belief that outcomes will always reflect characteristics of the process that generated them (e.g., an expectation that the outcome of a series of coin flips will always look random).
Coin Flips
A random process used to generate two equally likely outcomes, typically representing "heads" or "tails."
Framing
The way information is presented or structured, affecting perception and decision-making.
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