A Research Director Must Pick a Subset of Research Projects

question 43

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.
Define the ILP formulation for this capital budgeting problem.

---

Definitions:

Medication Allergy

An adverse reaction involving the immune system that occurs when the body mistakenly identifies a drug as a harmful substance, resulting in symptoms that can range from mild to severe.

Idiosyncratic Reaction

An abnormal or unusual response to a drug that is unexpected and not related to the pharmacological action of the drug.

PRN Order

A "pro re nata" prescription, indicating that the medication should be taken as needed, rather than on a fixed schedule.

Standing Order

A pre-approved instruction for the treatment of patients meeting specific criteria, allowing for immediate action without direct consultation each time.