OMIS 327 Lecture 5. Solving LP Problems using Excel

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

This preview shows pages 1–8. Sign up to view the full content.

1 OMIS 327 Lecture 5: Solving LP problems using Excel Instructor: Dr. Lee, Jung Young

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
2 Announcement Homework 1 is due Monday, February 22nd
3 Today’s Learning Goals Solve LP problems using Excel Solver

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
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.
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.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
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.
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.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern