Grush Consulting Has Five Projects to Consider Revenue from Each Project Is Also Shown

question 53

Essay

Grush Consulting has five projects to consider.Each will require time in the next two quarters according to the table below.
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$$\begin{array} { c c c c } \text { Project } & \text { Time in first quarter } & \text { Time in second quarter } & \text { Revenue } \\\hline \text { A } & 5 & 8 & 12000 \\\text { B } & 3 & 12 & 10000 \\\text { C } & 7 & 5 & 15000 \\\text { D } & 2 & 3 & 5000 \\\text { E } & 15 & 1 & 20000\end{array}$$ Revenue from each project is also shown.Develop a model whose solution would maximize revenue,meet the time budget of 25 in the first quarter and 20 in the second quarter,and not do both projects C and D.

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Definitions:

Correspondence Theory

A theory of truth stating that the truth or falsehood of a statement is determined by how it relates to the world and whether it accurately describes (corresponds with) that world.

Objective Truth

Truth independent of our personal opinions and demonstrably true to anyone (who is in the proper position to observe, who has the right testing equipment, and so on).

Justified True Belief

A traditional model in epistemology that defines knowledge as a belief that is both true and justified by sufficient evidence or reasoning.

Knowledge

Knowledge or proficiency gained from direct experience or instruction; insight into a subject via its study or application in a practical or theoretical manner.