Wine in Your Knapsack?
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We pose three Knapsack Problems (KPs) to select the rank-maximizing
subset of wines subject to budget and quantity constraints. The first problem
seeks the subset of wines, from a single cultivar (zinfandel) that maximizes the
sum of rank subject to a budget constraint. We modify this problem by adding
an equality constraint on the number of bottles that must be chosen. The
third problem seeks to maximize the sum of ranks from three different cultivars
(cabernet sauvignon, pinot noir, and zinfandel) subject to a budget constraint
and then a budget and minimum bottle constraints for each cultivar. The sum
of rank maximization problems may have multiple solutions. We also pose two
expenditure minimization problems, subject to achieving the maximum sum of
ranks. We also explore how a KP might be formulated when wine is viewed as
an investment.