A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses. The firm'sgoal is to maximize the net present value of their decision while not spending more than their currently available capital.Max 20x1 + 25x2 + 20x3+ 30x4s.t 7x1 + 6x2 + 5x3 + 10x4 s 13 (Constraint 1)X1* *2 + x3 + X4 2 2 (Constraint 2)x1+ x2 s1 (Constraint 3)x1 + x3 2 1 [Constraint 4)x2 = x4 (Constraint 5)S1, if location j is selected10, otherwise%3DSolve this problem to optimality and answer the following questions:a. Which of the warehouse locations will/will not be selected?Location 1 willLocation 2 willLocation 3 willLocation 4 willb. What is the net present value of the optimal solution? (Round your answer to the nearest whole number.)Net present valuec. How much of the available capital will be spent (Hint: Constraint 1 enforces the available capital limit)? (Round your answer to thenearest vwhole number.)

Max 20x1 + 25x2 + 20x3+ 30x4 s.t. 7x2 + 6x2 +5x3+ 10x4 ≤ 13 (Constraint 1) x1 + x2 + x3 +x4≥ 2…

Answered: A firm has prepared the following…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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