2.1 Some Basics about Excel
Cells, their address
Content of the cell (typing and hitting enter). 3 different types:
o Text
o Numbers
o Formulas
What we see may not be the actual content (e.g., truncated text, rounded numbers).
Formulas always begin with =
CHAPTER 3
LINEAR PROGRAMMING MODELS: GRAPHICAL AND
COMPUTER METHODS
SOLUTIONS TO DISCUSSION QUESTIONS
3-1. The requirements for an LP problem are listed in Section 3.2. It is also assumed that conditions of
certainty exist; that is, coefficients in the ob
Problem 1-20
With current equipment
With new equipment
Known parameters:
Known parameters:
Selling price per unit
Fixed cost
Variable cost per unit
$1.10
$15,500.00
$0.60
Input Data
Number of units, X
Results
Total revenue
Fixed cost
Total variable cost
T
Nursing Home
Number of Attendants
Objective
Constraints
6-10 needs
10-2pm needs
2pm - 6pm needs
6pm to 10 pm needs
10 pm to 2 am needs
2 am to 6 am needs
A
Start at 2
320
1.00
1
1
B
C
Start at 6 Start at 10
360
1.00
1.00
#
1
#
1
D
E
Start at 2Pm Start at
Nursing Home
Number of Attendants
Wages
Constraints
TotaL Available
6-10 needs
10-2pm needs
2pm - 6pm needs
6pm to 10 pm needs
10 pm to 2 am needs
2 am to 6 am needs
A
Start at 2
320
152.00
1
1
1
B
C
Start at 6 Start at 10
360
17
136.00
128.00
1
#
1
1
#
1
CHAPTER 1 HOMEWORK
1.
Decision modeling is the scientific approach to managerial decision-making. This type of
analysis is a logical and rational approach to making decisions. Emotions, guesswork, and whim
are not part of the decision modeling approach. S
Q1 Define decision modeling. What are some of the organizations
that support the use of the scientific approach?
Answer: Decision Modeling is a scientific approach to managerial decision making. It is the development
of a model of a real-world problem sce
An electronics firm is currently manufacturing an item that has a variable cost of $0.60 per unit and selling price o
product quality by adding a new piece of equipment at an additional fixed cost of $8,000. Variable cost would inc
(a) Should the company
Benefits Per Year
Category
Tangible Benefits
Staff Savings
Intangible Benefits
Increased Student/Faculty Satisfaction and Confidence
Improved Service to Students and Faculty
Total Benefits
One-Time Costs
Category
Licence for Software Development using com