Question Details

[answered] Microsoft Excel 15.0 Answer Report Worksheet: [Copy of Lind


DQ 1


Linear optimization models are the most common optimization models used in organizations today. Linear optimization models are used in finance, marketing, engineering and other disciplines.


Constructing optimization models is an art form requiring logic because there are several ways to formulate a particular problem. Learning how to construct an optimization model is facilitated by observation and studying examples of different optimization model attributes.


Select an organization or industry other than the one you work for, and illustrate an applied example of a type of linear optimization model, describing unique issues with its formulation and implementation. How might the chosen optimization model provide insight for making a good business decision?


DQ 2


In an integer linear optimization model, some or all of the variables are restricted to being whole numbers. A special type of integer problem is one in which variables can only be 0 or 1, used to model ?yes-or-no? decisions.

Integer linear programming can be used in many application areas such as production planning, scheduling, telecommunications networks, and cellular networks. Using the industry or organization selected in discussion question 1, choose an integer linear programming application area/function and describe the specific goal/task/problem/ planning issue and how integer programming can be used to derive an optimal solution.


Microsoft Excel 15.0 Answer Report

 

Worksheet: [Copy of Lindsey's candles marketing optimization model.xlsx]Sheet1

 

Report Created: 11/28/2016 10:57:32 PM

 

Result: Solver found a solution. All Constraints and optimality conditions are satisfied.

 

Solver Engine

 

Solver Options Objective Cell (Max)

 

Cell

 

$B$31 Variable Cells

 

Cell

 

$B$21 Quantity Produced

 

$C$21 Quantity Produced

 

$B$19 Advertising dollars

 

$C$19 Advertising dollars Name Original Value

 

Final Value

 

$ 306,569.34 $ 289,473.31 Name

 

The Romantic

 

Nosey Rose

 

The Romantic

 

Nosey Rose Original Value

 

12773.7226277

 

5474.45255474

 

0

 

0 Constraints

 

Cell

 

Name

 

$B$21 Quantity Produced The Romantic

 

$B$23 Min. percent requirement The Romantic

 

$B$24 Max. percent limitation The Romantic

 

$C$21 Quantity Produced Nosey Rose

 

$D$27 Budget Used Final Value

 

Integer

 

7113.11281748 Contin

 

10669.6692262 Contin

 

1102.18546958 Contin

 

1239.95865328 Contin Cell Value

 

Formula

 

7113.11281748 $B$21<=$B$20

 

0% $B$23>=$C$23

 

-5334.83461311 $B$24<=$C$24

 

10669.6692262 $C$21<=$C$20

 

$

 

50,000.00 $D$27<=$B$12 Status

 

Binding

 

Binding

 

Not Binding

 

Binding

 

Binding Slack

 

0

 

0%

 

5334.8346131

 

0

 

0 Microsoft Excel 15.0 Sensitivity Report

 

Worksheet: [Copy of Lindsey's candles marketing optimization model.xlsx]Sheet1

 

Report Created: 11/28/2016 10:57:33 PM Variable Cells

 

Cell

 

$B$21

 

$C$21

 

$B$19

 

$C$19 Quantity Produced

 

Quantity Produced

 

Advertising dollars

 

Advertising dollars Name

 

The Romantic

 

Nosey Rose

 

The Romantic

 

Nosey Rose Final

 

Value

 

7113.1128175

 

10669.669226

 

1102.1854696

 

1239.9586533 Reduced

 

Cost

 

0

 

0

 

0

 

0 Objective

 

Coefficient

 

17.19

 

15.89

 

-1

 

-1 Constraints

 

Cell

 

$B$21

 

$B$23

 

$B$24

 

$C$21

 

$D$27 Name

 

Quantity Produced The Romantic

 

Min. percent requirement The Romantic

 

Max. percent limitation The Romantic

 

Quantity Produced Nosey Rose

 

Budget Used Final

 

Shadow

 

Constraint

 

Value

 

Price

 

R.H. Side

 

7113.1128175 1.1275841701

 

0

 

0 -0.1349970467

 

0

 

-5334.8346131

 

0

 

0

 

10669.669226 0.8456881276

 

0

 

$50,000.00 5.7655050207

 

50000 Allowable

 

Allowable

 

Increase

 

Decrease

 

0.1397859327 40.670833333

 

1.00000E+030 0.1283988764

 

0.8387155963

 

244.025

 

6.9502427184 1.0271910112 Allowable

 

Allowable

 

Increase

 

Decrease

 

6773.1397459

 

279900

 

5201.1949323 6847.706422

 

1.00000E+030 5334.8346131

 

10190.533981

 

373200

 

1.00000E+030

 

46650 Lindsey's Candles

 

Cost/Wax

 

Price/candle The Romantic

 

Nosey Rose

 

$

 

2.80 $

 

2.60

 

$

 

19.99 $

 

18.49 Base Demand

 

Increase/$1 Adv.

 

Min. percent requirement

 

Max. percent limitation 500

 

6

 

0.40

 

0.70 Total budget 750

 

8 50000 Model Unit Profit

 

Advertising dollars

 

Demand

 

Quantity Produced

 

Contract

 

Min. percent requirement

 

Max. percent limitation Budget

 

Budget constraint

 

Profit

 

= (19.99R + 18.49N) ? ($2.80R + $2.60N + Ar + An)

 

= 17.19R+15.89N - Ar - An The Romantic

 

Nosey Rose

 

Total

 

$

 

17.19 $

 

15.89

 

0

 

0

 

500

 

750

 

1250

 

12773.7226277 5474.4525547445 18248.175182

 

547445%

 

0 $

 

$ 35,766.42 $

 

50,000.00 $ 306,569.34 0

 

0

 

Used

 

14,233.58 $ 50,000.00 Unused

 

$ - Lindsey's Candles

 

Cost/Wax

 

Price/candle The Romantic

 

Nosey Rose

 

$

 

2.80 $

 

2.60

 

$

 

19.99 $

 

18.49 Base Demand

 

Increase/$1 Adv.

 

Min. percent requirement

 

Max. percent limitation 500

 

6

 

0.40

 

0.70 Total budget 750

 

8 50000 Model Unit Profit

 

Advertising dollars

 

Demand

 

Quantity Produced

 

Contract

 

Min. percent requirement

 

Max. percent limitation Budget

 

Budget constraint

 

Profit

 

= (19.99R + 18.49N) ? ($2.80R + $2.60N + Ar + An)

 

= 17.19R+15.89N - Ar - An The Romantic

 

Nosey Rose

 

Total

 

$

 

17.19 $

 

15.89

 

0

 

0

 

500

 

750

 

1250

 

12773.7226277 5474.4525547445 18248.175182

 

547445%

 

0 $

 

$ 35,766.42 $

 

50,000.00 $ 306,569.34 0

 

0

 

Used

 

14,233.58 $ 50,000.00 Unused

 

$ - Microsoft Excel 15.0 Answer Report

 

Worksheet: [Copy of Lindsey's candles marketing optimization model.xlsx]Interger Constraint

 

Report Created: 11/29/2016 12:46:43 AM

 

Result: Solver found an integer solution within tolerance. All Constraints are satisfied.

 

Solver Engine

 

Solver Options Objective Cell (Max)

 

Cell

 

$B$31 Variable Cells

 

Cell

 

$B$21

 

$C$21

 

$B$19

 

$C$19 Constraints

 

Cell

 

$B$21

 

$B$23

 

$B$24

 

$C$21

 

$D$27

 

$B$21=Integer

 

$C$21=Integer Quantity Produced

 

Quantity Produced

 

Advertising dollars

 

Advertising dollars Name Original Value

 

Final Value

 

$ 289,473.31 $ 289,462.10 Name

 

The Romantic

 

Nosey Rose

 

The Romantic

 

Nosey Rose Original Value

 

Final Value

 

7113.11281748

 

7114

 

10669.6692262

 

10668

 

1102.18546958 1102.33333333

 

1239.95865328

 

1239.75 Name

 

Quantity Produced The Romantic

 

Min. percent requirement The Romantic

 

Max. percent limitation The Romantic

 

Quantity Produced Nosey Rose

 

Budget Used Cell Value

 

Formula

 

7114 $B$21<=$B$20

 

120% $B$23>=$C$23

 

-5333.4 $B$24<=$C$24

 

10668 $C$21<=$C$20

 

$

 

49,998.08 $D$27<=$B$12 Integer

 

Integer

 

Integer

 

Contin

 

Contin Status

 

Binding

 

Not Binding

 

Not Binding

 

Binding

 

Not Binding Slack

 

0

 

120%

 

5333.4

 

0

 

1.9166666667

 


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