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Solver - Solver We will use Solver an Excel add-in to solve...

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1 Solver We will use Solver, an Excel add-in, to solve Linear Programming problems. Add-In: An additional piece of software that Excel loads into memory when needed. In Excel, go to Tools Add Ins, put a check beside the Solver option and click OK. Note: Solver is not installed on the hard disk by default. Therefore, the first time you run it you may be prompted for the Microsoft Office CD. You should only have to go through this once. After choosing Solver in the Add-Ins list, go to Tools Solver to access Solver.
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2 Example: Product Mix Decision DJJ Enterprises makes automotive parts, Camshafts & Gears Unit Profit: Camshafts $25/unit, Gears $18/unit Resources needed: Steel, Labor, Machine Time. In total, 5000 lbs steel available, 1500 hours labor, and 1000 hours machine time. Camshafts need 5 lbs steel, 1 hour labor, 3 hours machine time. Gears need 8 lbs steel, 4 hours labor, 2 hours machine time. How many camshafts & gears to make in order to maximize profit?
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3 Understanding the Problem Text-Based Formulation Decision Variables: Number of camshafts to make, number of gears to make Objective Function: Maximize profit Constraints: Don’t exceed amounts available of steel, labor, and machine time.
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4 Algebraic Formulation
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