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    Model to optimize number of possible bids given budgets

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    The attached files provide a definition of the problem, especially the powerpoint slide.

    Given the information, I am trying to develop a linear programming model such that I maximize the number of possible bids given the limited resources of budgets and writers. Essentially, which of the 10 bids should I take on, given the limitations of availability and cost of writers.

    I am assuming all bids are released for bid at the same time and are due at the same time over a 4 week period.

    © BrainMass Inc. brainmass.com June 4, 2020, 12:33 am ad1c9bdddf
    https://brainmass.com/statistics/probability/model-optimize-number-possible-bids-given-budgets-345448

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    Please see attached files(s)

    NOTE: There are 1 worksheet in the Excel file

    I took into account the probability of the bid's success on the expected estimated profit

    I also assumed that the problem at hand is only for 4 weeks, hence the constraint I defined for the labor requirements.

    PROBLEM

    I have ten targets
    Project Project
    Value
    ($) Probability of Success Estimated
    Bid Cost ($) Allowed
    Labor ($) Estimated Project Profit ...

    Solution Summary

    A linear programming model to optimize a number of possible bids given budgets are examined.

    $2.19

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