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The Texas Consolidated Electronics Company is contemplating a research and development program encompassing eight research projects. The company is constrained from embarking on all projects by the number of available management scientists (40) and the budget available for R&D projects ($300,000). Further, if project 2 is selected, project 5 must also be selected (but not vice versa). Following are the resource requirements and the estimated profit for each project:

Define the decision variables.

Develop the objective function.

Write the constraints.

Solve the problem in Excel.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91643204

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