Problem 1 Create a new Problem 1 worksheet and build up the Economic Order Quantity (EOQ) model as discussed in the modules. Use the following values for the model variables:

Annual Demand: 105,000

Cost Per Unit: $27.38

Holding Costs: 7.5%

Ordering Costs: $273.00

a. Make sure that your model calculates the Unit Holding Costs, EOQ and Orders to Place per Year. b. Use FORMULATEXT to show any formulas that you use. Problem 2 Create a new Problem 2 worksheet and build up the Earned Value Management (EVM) model as discussed in the modules. Use the following values for the model variables:

Planned Value: $45,000

Actual Cost: $39,500

Earned Value: $43,500

Balance at Completion: $172,000

Original Time in Months: 14

a. Your model should calculate the Cost Variance, Schedule Variance, Cost Performance Index, Schedule Performance Index, Estimate at Completion and Estimated Time. Use conditional formatting to render any bad values red, good values green and 0 values yellow. b. Use FORMULATEXT to show any formulas that you use. c. What is the expected cost of the project and how long the project is expected to take to finish? What do you think about how well the project is doing time wise and cost wise? Type your answers on the same worksheet. Problem 3

Create a new Problem 3 worksheet and use the solver (Module 12 (Video 3-4) to the following:

a. A quilter is making table runners and placemats. It takes her 12 minutes to make a table runner and 7.5 minutes to make a placemat. Each placemat uses 1.25 yards of fabric and each table runner uses 2/3 yard of fabric.

She has 31 hours available for making the table runners and placemats and has 237 yard of fabric on hand. She makes a profit of $2.50 on each table runner and $1.75 on each placemat. How many of each item should she make in order to maximize profit?

b. Use FORMULATEXT to show any formulas that you use.

c. There is a solution to this problem that the solver finds (question 3#a). Type your answers to the following questions in the same worksheet :

i. How many of each product should be sold to maximize profit?

j. What is the maximum profit that can be achieved?

k. What constraint(s) caused this solution to be the best possible?