Management Science Chapter 1 and 2 notes.docx

# Formulating a spreadsheet model for this problem the

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Formulating a Spreadsheet Model for This Problem The procedure summarized at the end of Section 2.2 can be used to formulate the spreadsheet model for this problem. Each step of the procedure is repeated below, followed by a description of how it is performed here. 1. Gather the data for the problem. This has been done as presented in Table 2.2 . 2. Enter the data into data cells on a spreadsheet. The top half of Figure 2.21 shows this spreadsheet. The data cells are in columns C and D (rows 4 and 8 to 10), as well as in cells G8:G10. Note how this particular formatting of the spreadsheet has facilitated a direct transfer of the data from Table 2.2 . TABLE 2.2 Data for the Profit & Gambit Co. Advertising-Mix Problem

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FIGURE 2.21 The spreadsheet model for the Profit & Gambit problem, including the formulas for the objective cell TotalCost (G14) and the other output cells in column E, as well as the specifications needed to set up Solver. The changing cells, AdvertisingUnits (C14:D14), show the optimal solution obtained by Solver.

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