Question: I need some help with my project In the project, you will Find a problem that requires a decision. Construct a mathematical problem that has

I need some help with my project

In the project, you will Find a problem that requires a decision. Construct a mathematical problem that has an objective function and constraints. Solve the problem using Excel. Briefly interpret the result.

12. Use only Excel Solver to get the optimal solution. You may have previous exposure to more specialized optimization programs but do not use them in this project.

13. The maximum number of decision variables and constraints you can use in Solver is 200 each. If your problem is bigger than this, make an alternative baby version of the problem and solve it.

14. The problem should sufficiently complex so that using optimization programs such as Solver is required. If the problem is too simple and hence can be solved without using Solver, it is not appropriate for the final project.

15. The scale of the problem can be diverse: yourself, a small store, a corporation, a city or a country. However, the problem should from real situations.

16. It is difficult or impossible to obtain all the parameters of the problem. Then, you need to make assumptions on the problem. However, assumptions out of nowhere and assumptions based on some observations or guesstimations are different. If your problem is full of assumptions out of nowhere, it is simply an imaginary problem but if major assumptions of your problem are from justifiable reasoning, your problem will be more relevant in practice.

17. Rather than putting multiple small problems that are related to the main issue, solving one good problem is recommended.

18. You may add a sensitivity analysis, but it is not a requirement. Sometimes a sensitivity analysis itself can tell more interesting story than the problem itself. A sensitivity analysis is not limited to the sensitivity report you obtain in Excel. You can also add or delete constraints and resolve the problem.

19. You may find a context quite similar to the one we learned in the course and simply apply the existing templates. However, you cannot get a high score just by doing this. High scores come from combining multiple components you learned and not losing logical plausibility. Highest scores usually come from creation of new structure.

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