Question: Need Help Setting up and solving in excel. Please show how tonput into solver table. Select one of the following model structures to use: Product
Need Help Setting up and solving in excel. Please show how tonput into solver table.
Select one of the following model structures to use:
Product Mix
Production Planning
Portfolio
Blending
Marketing
Scheduling
Capital Budgeting
Fixed Charge
Assignment
Transportation
Location
Using the selected structure, develop a problem which can be modeled and solved using Excel. While students are not required to use a real situation, I recommend using this assignment to help solve an actual problem in personal or professional life. The scenario used must be applied even if a real situation is not being modeled.
Problem Requirements: Submit one Excel file which meets the following requirements.
Use one of the listed models as a base for the problem. If there is a model not listed you would like to use, please discuss this with Mandie.
Include at least decision variables.
Include at least different kinds of constraints ex In the Post Office with PT Template we had required employees needed each hour; a limit on the percent of PT employees; and an integer requirement
Explain the problem with a narrative which includes the premise for the problem, the necessary information needed to model the problem, and discussion of the objective. Also, pose a question which will use SolverTable after an optimal solution is found. Students should wait until they have found an optimal solution to decide on a SolverTable question to ensure the question makes sense. This will be similar to homework problems we have. Place this information in a text box in the Excel file.
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