OMIS 327 Lecture 5. Solving LP Problems using Excel

OMIS 327 Lecture 5. Solving LP Problems using Excel - OMIS...

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1 OMIS 327 Lecture 5: Solving LP problems using Excel Instructor: Dr. Lee, Jung Young
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2 Announcement Homework 1 is due Monday, February 22nd
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3 Today’s Learning Goals Solve LP problems using Excel Solver
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4 Solving Flair Furniture’s LP Problem Using Excel Most organizations have access to software to solve big LP problems. While there are differences between software implementations, the approach each takes towards handling LP is basically the same. Once you are experienced in dealing with computerized LP algorithms, you can easily adjust to minor changes.
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5 Using Excel’s Solver Command to Solve LP Problems The Solver tool in Excel can be used to find solutions to: LP problems. Integer programming problems. Solver is limited to 200 variables and 100 constraints.
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6 Using Solver to Solve the Flair Furniture Problem Recall the model for Flair Furniture is: Maximize profit = $70 T + $50 C Subject to 4 T + 3 C ≤ 240 2 T + 1 C ≤ 100 non-negativity is assumed To use Solver, it is necessary to enter formulas based on the initial model.
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7 Using Solver to Solve the Flair Furniture Problem 1. Enter the variable names, the coefficients for the objective function and constraints, and the right- hand-side values for each of the constraints. 2. Designate specific cells for the values of the decision variables. 3. Write a formula to calculate the value of the objective function.
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