The city council of Fayetteville is in the process of approving the construction of a new…

The city council of Fayetteville is in the process of approving the construction of a new 200,000-ft^2 convention center. Two sites have been proposed, and both require excessing the “eminent domain” law to acquire the property. The following table provides data about proposed (contiguous) properties in both sites together with the acquisition cost.

Site 1:

Property 1, Area (1000 ft^2)=20, Cost ($1000)=1000

Property 2, Area (1000 ft^2)=50, Cost ($1000)=2100

Property 3, Area (1000 ft^2)=50, Cost ($1000)=2350

Property 4, Area (1000 ft^2)=30, Cost ($1000)=1850

Property 5, Area (1000 ft^2)=60, Cost ($1000)=2950

Site 2:

Property 1, Area (1000 ft^2)=80, Cost ($1000)=2800

Property 2, Area (1000 ft^2)=60, Cost ($1000)=1900

Property 3, Area (1000 ft^2)=50, Cost ($1000)=2800

Property 4, Area (1000 ft^2)=70, Cost ($1000)=2500

(Picture of this table attached for further clarification)

Partial acquisition of property is allowed. At least 75% of property 4 must be acquired if site 1 is selected, and at least 50% of property 3 must be acquired if site 2 is selected. Although site 1 property is more expensive (on a per ft^2 basis), the construction cost is less than at site 2, because the infrastructure at site 1 is in much better shape. Construction cost is $25 million at site 1 and $27 million at site 2. Which site should be selected, and what properties should be acquired? Find the solution using excel solver or simplex solver.

 

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