A Research Director Must Pick a Subset of Research Projects

question 22

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:

Distributed Practice

A learning strategy where study sessions are spaced out over time, rather than condensed into short, intense periods, to improve long-term retention of material.

Cram Session

A focused study period immediately before an exam aiming for rapid memorization or understanding of content.

Chunked

The process of organizing or breaking down information into smaller, manageable units or chunks to improve recall and understanding.

Massed

Massed practice refers to the learning approach where information or skills are studied intensively over short periods of time, without breaks.