Statement of a problem № m1356


The integer programming problem on the following page has been developed to help First National Bank decide where, out of 10 possible sites, to locate four new branch offices: where Xi represents Winter Park, Maitland, Osceola, Downtown, South Orlando, Airport, Winter Garden, Apopka, Lake Mary, Cocoa Beach, for i equals 1 to 10, respectively. (a) Where should the four new sites be located, and what will be the expected return? (b) If at least one new branch must be opened in Maitland or Osceola, will this change the answers? Add the new constraint and rerun. (c) The expected return at Apopka was overestimated. The correct value is $ 160,000 per year (i. e., 160). Using the original assumptions (namely, ignoring (b)), does your answer to part (a) change?

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