Homework 03 - IEOR E4007 G. Iyengar February 23rd, 2009....

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IEOR E4007 G. Iyengar February 23rd, 2009. Homework #3 Due : March 8th, 2009. 1. Exercise 3.15 from Optimization methods for finance 2. Simple problems on integer programming Formulate, but do not solve , the following mathematical programming problems as integer linear programs. (a) A courier traveling to Europe can carry up to 50 kilograms of a commodity, all of which can be sold for $40 per kilogram. The round-trip air fare is $450 plus $5 per kilogram of baggage in excess of 20 kilograms (one way). Ignoring any possible prots on the return trip, should the courier travel to Europe and, if so, how much of the commodity should be taken along in order to maximize his pro±ts? (b) A copying service incurs machine operating costs of: $0.10 for copies 1 to 4, $0.05 for copies 5 to 8, $0.025 for copies 9 and over, and has a capacity of 1000 copies per hour. One hour has been reserved for copying a 10-page article to be sold to MBA students. Assuming that all copies can be sold for $0.50 per article, how many copies of the article should be made?
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Homework 03 - IEOR E4007 G. Iyengar February 23rd, 2009....

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