Please formulate the following problem as a Dynamic Programming problem and solv

Question

Please formulate the following problem as a Dynamic Programming problem and solve it using a multi-stage optimization strategy. (Note: No credits will be given for solving it using any other means) It is proposed to build themal stations at three different sites. The total budget available is 3 units ( unit$10 million) and the feasible lerels of inestment on ay themal t 15 oa any station are 0, 1, 2, or 3 umits. The electric power obtainable (zeturn fimction) for different investments is given below:

Explanation / Answer

Maximize/(X 1 , X2) = 1Ox1 + Sx2

subject to 2X1 + X2 < 25 3X1 + 2x2 < 45 X2 < 10 X1 > 0, x2 >

0 Verify your solution by solving it graphically.

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