MATH 1900 Summer 2022 Class Activity # Using Excel to solve linear programming problems Technology can be used to solve a system of equations once the constraints and objective function have been defined. Excel has an add-in called the Solver which can be used to solve systems of equations or inequalities. 1. A corporation plans on building a maximum of 11 new stores in a large city. They will build these stores in one of three sizes for each location a convenience store (open 24 hours). standard store, and an expanded services store. The convenience store requires $4.125 million to build and 30 employees to operate. The standard store requires $8.25 million to build and 15 employees to operate. The expanded-services store requires $12.375 million to build and 45 employees to operate. The corporation can dedicate $82.5 million in construction capital, and 300 employees to staff the stores. On the average, the convenience store nets $1.2 million annually, the standard store nets $2 million annually, and the expanded services store nets $2.6 million annually. How many of each should they build to maximize revenue? (a) Identify decision variables. Name (b) Write the mathematical model of the corporation. (c) Use Excel Solver to obtain the optimum solution. 2. Use excel solver to find the optimal solution minimize subject to 42r1 +52 +1723 321-22+723 25 -3-y+373 28 61+z2+z3 2 16 11, 12, and 23 20 MATH 1900 Summer 2022 Class Activity # Using Excel to solve linear programming problems Technology can be used to solve a system of equations once the constraints and objective function have been defined. Excel has an add-in called the Solver which can be used to solve systems of equations or inequalities. 1. A corporation plans on building a maximum of 11 new stores in a large city. They will build these stores in one of three sizes for each location a convenience store (open 24 hours). standard store, and an expanded services store. The convenience store requires $4.125 million to build and 30 employees to operate. The standard store requires $8.25 million to build and 15 employees to operate. The expanded-services store requires $12.375 million to build and 45 employees to operate. The corporation can dedicate $82.5 million in construction capital, and 300 employees to staff the stores. On the average, the convenience store nets $1.2 million annually, the standard store nets $2 million annually, and the expanded services store nets $2.6 million annually. How many of each should they build to maximize revenue? (a) Identify decision variables. Name (b) Write the mathematical model of the corporation. (c) Use Excel Solver to obtain the optimum solution. 2. Use excel solver to find the optimal solution minimize subject to 42r1 +52 +1723 321-22+723 25 -3-y+373 28 61+z2+z3 2 16 11, 12, and 23 20