Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics (MindTap Course List)
8th Edition
ISBN: 9781305947412
Author: Cliff Ragsdale
Publisher: Cengage Learning
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Chapter 3, Problem 12QP
Summary Introduction
To develop: A spreadsheet model for the problem and solve it using solver.
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Consider the following optimization problemMinimize 3x1+8x2s.t.2x1+6x2 > 6x1+2x2 > 2.5x1+3x2 > 0.5x1>0 x2>0a) Graph the feasible region of this linear program. Is the feasible region bounded?Why? (you may use an online tool like desmos.com/calculator)b) Are any of the above constraints redundant? If so, indicate which one(s). Explainwhy.c) Solve the linear program using the graphical method. Explain your approach.d) Consider the feasible region drawn in Part (a) and answer the following: If we addthe constraint 3x1+x2> a (hint: you may use desmos.com/calculator and shift theparameter a to see how the feasible region changes)i. For what values of a is this a redundant constraint, if any? Why?ii. For what values of a is the above optimal solution no longer optimal, ifany? Why?iii. For what values of a does the problem become infeasible, if any? Why?e) Consider the original formulation…
Consider the following all-integer linear program:
Max
5x1
+
8x2
s.t.
6x1
+
5x2
≤
28
11x1
+
5x2
≤
46
x1
+
2x2
≤
8
x1, x2 ≥ 0
and integer
Find the optimal solution to the LP Relaxation. If required, round your answers to two decimal places.
x1=
fill in the blank 2
x2=
fill in the blank 3
Optimal Solution to the LP Relaxation
fill in the blank 4
Round down to find a feasible integer solution. If your answer is zero enter “0”.
x1=
fill in the blank 5
x2=
fill in the blank 6
Feasible integer solution
fill in the blank 7
Find the optimal integer solution. If your answer is zero enter “0”.
x1=
fill in the blank 8
x2=
fill in the blank 9
Optimal Integer Solution
fill in the blank 10
Is it the same as the solution obtained in part (b) by rounding down?
Assignment Problem:
An iron & steel plant company has 4 machines available for assignment to 4 tasks in one of its production lines. Any machine can be assigned to any task, and each task requires processing by one machine. The time required to set up each machine for the processing of each task is given in the table below.
(a) Formulate an assignment problem that could be used to determine how to minimize the total setup time needed for the processing of all four tasks. The formulation should be in algebraic closed form.
(b) Use LINGO/OPL/EXCEL to solve your model. Write down the results of the decision variables and the objective function. Explain the value of the decision variables. What do they mean? (You can code your model either in the open form or in the closed form, it depends on you).
(c) Use the Hungarian method to solve the problem. Find the optimal assignment and the total setup time required.
Chapter 3 Solutions
Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics (MindTap Course List)
Ch. 3 - Prob. 1QPCh. 3 - Prob. 2QPCh. 3 - Prob. 3QPCh. 3 - Prob. 4QPCh. 3 - Prob. 5QPCh. 3 - Prob. 6QPCh. 3 - Refer to question 19 at the end of Chapter 2....Ch. 3 - Prob. 8QPCh. 3 - Prob. 9QPCh. 3 - Prob. 10QP
Ch. 3 - Prob. 11QPCh. 3 - Prob. 12QPCh. 3 - Prob. 13QPCh. 3 - Prob. 14QPCh. 3 - Prob. 15QPCh. 3 - Prob. 16QPCh. 3 - Prob. 17QPCh. 3 - Tuckered Outfitters plans to market a custom brand...Ch. 3 - Prob. 19QPCh. 3 - Prob. 20QPCh. 3 - Prob. 21QPCh. 3 - Prob. 22QPCh. 3 - Prob. 23QPCh. 3 - Prob. 24QPCh. 3 - Prob. 25QPCh. 3 - Prob. 26QPCh. 3 - A manufacturer of prefabricated homes has decided...Ch. 3 - Prob. 28QPCh. 3 - Prob. 29QPCh. 3 - Prob. 30QPCh. 3 - Prob. 31QPCh. 3 - Prob. 32QPCh. 3 - Prob. 33QPCh. 3 - Prob. 34QPCh. 3 - Prob. 35QPCh. 3 - Prob. 36QPCh. 3 - Prob. 37QPCh. 3 - Prob. 38QPCh. 3 - Prob. 39QPCh. 3 - Prob. 40QPCh. 3 - Prob. 41QPCh. 3 - Prob. 42QPCh. 3 - Prob. 43QPCh. 3 - Prob. 44QPCh. 3 - A natural gas trading company wants to develop an...Ch. 3 - Prob. 46QPCh. 3 - The CFO for Eagle Beach Wear and Gift Shop is in...Ch. 3 - Prob. 48QPCh. 3 - Prob. 1.1CCh. 3 - Prob. 1.2CCh. 3 - Prob. 1.3CCh. 3 - Prob. 1.4CCh. 3 - Prob. 2.1CCh. 3 - Prob. 2.2CCh. 3 - Prob. 2.3CCh. 3 - Prob. 2.4CCh. 3 - Prob. 2.5CCh. 3 - Kelly Jones is a financial analyst for Wolverine...
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