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.

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Definitions:

Odour

A distinctive smell, especially an unpleasant one, perceived by the olfactory nerve system.

Sensory Adaptation

The procedure through which receptors sensing the environment become less alert to unchanged stimuli through time.

Sensory Sensitization

An increased response to a stimulus following repeated exposure to it.

Pain Pathway

Refers to the physiological processes that convey pain signals from the body's peripheral receptors through the spinal cord to the brain.