A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses. The firm’s goal is to maximize the net present value of their decision while not spending more than their currently available capital. Max 15x1 + 25x2 + 15x3+ 35x4 s.t. 8x1 + 11x2 + 6x3 + 6x4 ≤ 17 {Constraint 1} x1 + x2 + x3 + x4 ≥ 2 {Constraint 2} x1 + x2 ≤ 1 {Constraint 3} x1 + x3 ≥ 1 {Constraint 4} x2 = x4 {Constraint 5} xj = 0, 1 Solve this problem to optimality and answer the following questions: Which of the warehouse locations will/will not be selected? Location 1 will Answer Location 2 will Answer Location 3 will Answer Location 4 will Answer What is the net present value of the optimal solution? (Round your answer to the nearest whole number.) Net present value Answer How much of the available capital will be spent (Hint: Constraint 1 enforces the available capital limit)? (Round your answer to the nearest whole number.)

A firm has prepared the following binary integer program to evaluate a number of potential locations for new warehouses. The firm’s goal is to maximize the net present value of their decision while not spending more than their currently available capital. Max 15x1 + 25x2 + 15x3+ 35x4 s.t. 8x1 + 11x2 + 6x3 + 6x4 ≤ 17 {Constraint 1} x1 + x2 + x3 + x4 ≥ 2 {Constraint 2} x1 + x2 ≤ 1 {Constraint 3} x1 + x3 ≥ 1 {Constraint 4} x2 = x4 {Constraint 5} xj = 0, 1 Solve this problem to optimality and answer the following questions: Which of the warehouse locations will/will not be selected? Location 1 will Answer Location 2 will Answer Location 3 will Answer Location 4 will Answer What is the net present value of the optimal solution? (Round your answer to the nearest whole number.) Net present value Answer How much of the available capital will be spent (Hint: Constraint 1 enforces the available capital limit)? (Round your answer to the nearest whole number.)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter5: Network Models

Section5.5: Shortest Path Models

Problem 32P

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