assignment 1

assignment 1 - MS&E 211 Linear and Nonlinear...

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Fall 2007 Linear and Nonlinear Optimization Sep 27, 2007 Prof. Yinyu Ye Homework Assignment 1: Due 3:15pm Tuesday, Oct 9 There is a homework collecting box outside of professor Ye’s office (Terman 316) for you to submit your homework. No late homework accepted! Problem 1 1 The Primo Insurance Company is introducing two new product lines: special risk insurance and mortgages. The expected profit is $5 per unit on special risk insurance and $2 per unit on mortgages. Management wishes to establish sales quotas for the product lines to maximize total expected profit. The work requirements are as follows: work hours per unit Department special risk mortgage work hours available underwriting 3 2 2400 administration 0 1 800 claims 2 0 1200 a) Formulate a linear programming model for the problem. b) Use the graphical method to solve the model. c) Solve the linear program by Excel (or any Software) to verify your answer by the graphical method. Problem 2 (School Selection)
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assignment 1 - MS&E 211 Linear and Nonlinear...

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