Exhibit 6.1 The Following Questions Pertain to the Problem, Formulation, and Spreadsheet

question 25

Essay

Exhibit 6.1
The following questions pertain to the problem, formulation, and spreadsheet implementation below.
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. The following is the ILP formulation and a spreadsheet model for the problem.
-Refer to Exhibit 6.1. What formulas should go in cells D8:H8 and D11:H11 of the above Excel spreadsheet?

---

Definitions:

Adaptability

Adaptability is the ability to adjust readily to different conditions, environments, or situations, often considered a crucial skill in both personal and professional contexts.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all resources are fully utilized.

Production Possibilities Frontier

A graph that shows the combinations of two goods the economy can possibly produce given the available resources and technology.

Unemployed Resources

Assets, labor, or capital that are available but not currently being used in the production of goods or services.