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(Step-by-Step) Consider a capital budgeting example with 5 projects from which to select. Let X 1 = 1 if project 1 is selected, 0 if not. Let the other 4 decision

Question: Consider a capital budgeting example with 5 projects from which to select.

Let X 1 = 1 if project 1 is selected, 0 if not. Let the other 4 decision variables be defined similarly. The projects cost $100, $200, $150, $75, and $125, respectively. The budget is $450.

Write the appropriate constraint for the following conditions:

  1. Choose no fewer than 3 projects: ____________________________
  2. The cost of the chosen projects cannot exceed the budget:
    _________________________________________
  3. If project 1 is chosen, project 2 must also be chosen:

___________________________________________

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