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Optimization &amp; Linear Programming Solver

# Optimization &amp; Linear Programming Solver -...

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Optimization & Linear Programming

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For March 2nd Wrap up Excel Start Database Mgt – Please read Chapter 11 in the book Presentation of Blogs: Section 501 – last names Do – Ga Section 601 – last names Fa – Gu Excel HW was posted on BB on Feb. 25 2
3 Optimization Optimization Problems have: Decision variables (can be varied) Objective function (what are we optimizing?) Constraints (typically, business rules) In Excel: Changing cells -> decision variables Target cell -> contains the objective (one) to be minimized or maximized Constraints -> formulas or cells

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4 Optimization A feasible solution satisfies all constraints But may not be optimum The feasible region is the set of all feasible solutions An infeasible solution violates at least one of the constraints The optimal solution is the feasible solution that optimizes the objective It is possible that no feasible solution exists
5 Simplex Method An algorithm that works well in solving linear programming problems (a set of linear inequalities) is the simplex method This is implemented in Excel via the Solver add-in (included in Excel for free) Tools -> Solver Must be turned on via Tools -> Add-ins

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6 Solver Example Use Pony Espresso.xls from Bb Pony Expresso Regular Coffee: \$1.25 Premium Latte: \$2.00
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Optimization &amp; Linear Programming Solver -...

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