WEEK 2 HOMEWORK

QSO320ModuleThreeProblem3-3.xlsx

P3-3

Problem 3-3
	Junior	Travel	Deluxe
					<-----	Solver will place results in yellow shaded cells (decision variables)
Revenue	$5.75	$6.95	$7.50	$0.00
Labor cost	$4.13	$5.62	$6.17	$0.00
Profit	$1.62	$1.33	$1.33	$0.00		<-----	Formula for objective function in green shaded cell (=E5-E6)
Constraints							Cost
Cutting	0.10	0.15	0.20	0.00	<=	450	$7.00
Sewing	0.05	0.12	0.18	0.00	<=	550	$9.00
Finishing	0.18	0.24	0.20	0.00	<=	600	$8.50
Packing	0.20	0.20	0.20	0.00	<=	450	$7.25
Max Junior	1			0.00	<=	1200
Max Travel		1		0.00	<=	1200
Max Deluxe			1	0.00	<=	1200
Min Junior	1			0.00	>=	300
Min Travel		1		0.00	>=	300
Min Deluxe			1	0.00	>=	300
				LHS	Sign	RHS
Note:
Once all values are entered in the appropriate shaded areas, go to the DATA tab on the Excel sheet ribbon, click on the Data Analysis Group, and then choose Solver. Click SOLVE to run Excel's Solver add-in to obtain the optimized solution. Note that if Solver is not on the DATA tab, refer to the Help file (Solver) for instructions or pages 569–571 of Balakrishnan (2013) Managerial Decision Modeling With Spreadsheets. For more information on entering information in Solver, refer to pages 44–49 of Balakrishnan (2013). To learn more about how to set up and solve linear programming (LP) problems, refer to pages 40–51 of Balakrishnan (2013). For the changing variable cells (yellow shaded), the initial entries in the cells can be blank or any value of your choice based on the given constraints.