Exhibit 61
the Following Questions Pertain to the Problem,formulation,and Spreadsheet Implementation

question 1

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.
Project Funds Required in $000s)Benefit
$\begin{array}{ccccccc}\text { Project } & 1 & 2 & 3 & 4 & 5 & \text { in } \$ 000 s) \\\hline 1 & \$ 70 & \$ 40 & \$ 30 & \$ 15 & \$ 15 & \$ 160 \\2 & \$ 82 & \$ 35 & \$ 20 & \$ 20 & \$ 10 & \$ 190 \\3 & \$ 55 & \$ 10 & \$ 10 & \$ 5 & & \$ 125 \\4 & \$ 69 & \$ 17 & \$ 15 & \$ 12 & \$ 8 & \$ 139 \\5 & \$ 75 & \$ 20 & \$ 25 & \$ 30 & \$ 45 & \$ 174 \\\hline\end{array}$
Budget $225K $60K $60K $50K $50K The following is the ILP formulation and a spreadsheet model for the problem.


-Refer to Exhibit 6.1.What values would you enter in the Analytic Solver Platform task pane for the above Excel spreadsheet?
Objective Cell: Variables Cells: Constraints Cells:

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Definitions:

CDs

Compact Discs, a digital optical disc data storage format used for storing digital data.

Budget Constraint

The limitation on the consumption patterns of individuals or entities based on their income and the prices of goods and services.

Points Along

Specific locations identified on a graph or line that represent data points or positions related to a particular value.

Budget Constraint

An economic model that shows the combination of goods and services a consumer can purchase with a given income.