A water resources agency has three project in which it can invest. According to the level of investment in each project, a benefit is achieved as in the following table.
Project | Investment ($ million) | Total Benefit ($ million) | Net Benefit ($ million) |
1 | 0 | 0 | 0 |
| 5 | 6 | 1 |
| 10 | 12 | 2 |
| 15 | 22 | 7 |
2 | 0 | 0 | 0 |
| 5 | 12 | 7 |
| 10 | 16 | 6 |
| 15 | 18 | 3 |
3 | 0 | 0 | 0 |
| 5 | 8 | 3 |
| 10 | 16 | 6 |
| 15 | 24 | 9 |
The agency takes as its goal the maximization of net benefits, defined as total benefit minus investment cost. The agency has an authorized budget of up to $25 million to allocate among the projects.
Construct tables and perform calculations to determine the best investment policy using dynamic programming. What is the best policy and associated net benefit?
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.