Problem B.1, HR7E Solve the following LP graphically R. Saltzman

Size: px
Start display at page:

Download "Problem B.1, HR7E Solve the following LP graphically R. Saltzman"

Transcription

1 Problem B.1, HR7E Solve the following LP graphically R. Saltzman Maximize 4X + 6Y = Z subject to: (1) X + 2Y <= 8 (2) 5X + 4Y <= 2 (3) X >= (4) Y >= Note: There is a typograhpical error in the book regarding the last 2 nonnegativity constraints. Y X Y Z <-- optimal solution 7 and optimal Z (2) FR (1) X

2 Problem B.2, HR7E Solve the following LP graphically R. Saltzman Maximize X + 1Y = Z subject to: (1) 4X + 3Y <= 36 (2) 2X + 4Y <= 4 (3) Y >= 3 (4) X >= (5) Y >= Y X Y Z <-- optimal solution FR 4 3 (3) 2 1 (1) (2) X

3 Problem B.4, HR7E R. Saltzman Maximize 3X1 + 1X2 = Z subject to: (1) 3X1 + X2 <= 3 (2) X1 + X2 <= 2 (3) X1 <= 1 (4) X2 >= 5 (5) X1 - X2 <= a) Solve the problem graphically: X2 3 (3) X1 X2 Z (1) <-- optimal solution <-- optimal solution (5) 1 FR 75 (2) 5 (4) X1 b) Is there more than 1 optimal solution? Yes. Also, all the points between (5, 15) and (75, 75) have the same optimal value of 3.

4 Problem B.6, HR7E Ed Solver Dog Food Co. R. Saltzman a) Formulation: Let C = # of chicken-flavored biscuits per package Let L = # of liver-flavored biscuits per package Mininize.2*C +.1L = Z subject to: (1) C + L >= 4 (Nutrient A requirement) (2) 4C + 2L >= 6 (Nutrient B requirement) (3) L <= 15 (4) C >= (5) L >= b) Solve the problem graphically: L 4 C L Z <-- optimal solution & cost (3) 1 5 (2) (1) FR C

5 Problem B.8, HR7E Optimal Mix of Bathtubs R. Saltzman a) Formulation: Let A = # of model A bathtubs Let B = # of model B bathtubs Maxinize 9A + 7B = Z Total Profit subject to: (1) 125A + 1B <= 25 Steel Availability (2) 2A + 3B <= 6 Zinc Availability (3) A >= (4) B >= b) Solve the problem graphically: B A B Z <-- optimal solution (1) FR (2) A

6 Problem B.9, HR7E Mattresses & Box Springs R. Saltzman a) Formulation: Let M = # of mattresses to produce Let B = # of box springs to produce Mininize 2M + 24B = Z Total Cost subject to: (1) M + B >= 3 Minimum production requirement (2) 1M + 2B >= 4 Stitching machine requirement (3) M >= (4) B >= b) Solve the problem graphically: B M B Z <-- optimal solution (1) FR (2) M

7 Problem B.1, HR7E Making Computers R. Saltzman a) Formulation: Let A = # of Alpha 4 minicomputers to produce Let B = # of Beta 5 minicomputers to produce Maxinize 12A + 18B = Z Total Cost subject to: (1) 2A + 25B = 8 Full employment (2) A >= 1 Minimum Alpha 4 production (3) B >= 15 Minimum Beta 5 production b) Solve the problem graphically: B A B Z <-- optimal solution (2) 3 2 (3) FR 1 (1) A

8 Problem B.16, HR7E Busing Students R. Saltzman Superintendent must assign students living in 5 geographic sectors to 3 schools. 1. Different numbers of students live in each sector 2. Each high school has a capacity of 9 students 3. Some students must be bused - distances are shown in the table 4. Students living in a sector where there is a school walk ( bus miles) Goal: Find assignment that minimizes the total # of student miles traveling by bus to school. Let Xij = Number of students from sector I bused to school in sector j Data Mileage Supply From \ To School-in-Sector B School-in-Sector C School-in-Sector E (Students) Sector A Sector B Sector C Sector D Sector E (Fake) F 2 Demand \ 27 Allocations Optimal Solution (found using Solver) From \ To School-in-Sector B School-in-Sector C School-in-Sector E Row Total Sector A Sector B 5 5 Sector C 1 1 Sector D 8 8 Sector E 4 4 (Fake) F 2 2 Col. Total \ 27 Total Cost 54

9 Problem B.18, HR7E Restaurant Scheduling R. Saltzman * Open 24 hours a day * Servers work 8 hour shifts, reporting for duty at beginning of one of 6 time periods: Period Time # of Servers Required i = 1 3 am - 7 am 3 i = 2 7 am - 11 am 12 i = 3 11 am - 3 pm 16 i = 4 3 pm - 7 pm 9 i = 5 7 pm - 11 pm 11 i = 6 11 pm - 3 am 4 Goal: Find minimum # of servers required to cover the schedule. Let Xi = # of servers who begin work at start of period i, i = 1, 2, 3, 4, 5, 6. X1 X2 X3 X4 X5 X6 Σ No. of Servers <-- optimal solution Cost of Server (via Solver) Period Time X1 X2 X3 X4 X5 X6 LHS RHS 1 3 am - 7 am >= am - 11 am >= am - 3 pm >= pm - 7 pm >= pm - 11 pm >= pm - 3 am >= 4 That is: Minimize X1 + X2 + X3 + X4 + X5 + X6 = Z subject to: X1 + X6 >= 3 X1 + X2 >= 12 X2 + X3 >= 16 X3 + X4 >= 9 X4 + X5 >= 11 X5 + X6 >= 4 All Xj >=, for j = 1, 2, 3, 4, 5, 6

10 Problem B.19, HR7E Birdhouse Builder R. Saltzman a) Formulation: Let W = # of Wren Birdhouses to build Let B = # of Bluebird Birdhouses to build Maxinize 6W + 15B = Z Total Profit subject to: (1) 4W + 2B <= 6 Labor availability (2) 4W + 12B <= 12 Lumber availability (3) W >= (4) B >= b) Solve the problem graphically: B W B Z <-- optimal solution (2) (1) FR W

11 Problem B.25, HR7E Advertising Agency R. Saltzman a) Formulation: Let T = # of TV spots to run Let S = # of Sunday newspaper ads to run Maxinize 35T + 2S = Z Total Exposure (in 1's) subject to: (1) 3T + 125S <= 1 Advertising Budget (2) T >= 5 Minimum # of TV spots (3) T <= 25 Maximum # of TV spots (4) S >= 1 Minimum # of Sunday ads b) Solve the problem graphically: S T S Z <-- optimal solution (1) (2) (3) 3 FR 2 1 (4) T

12 Problem B.26, HR7E Factories & Warehouses R. Saltzman Unit Shipping Costs & Capacities To Warehouse Production From A B C Capability Factory 1 $ 6 $ 5 $ 3 6 Factory 2 $ 8 $ 1 $ 8 8 Factory 3 $ 11 $ 14 $ 18 1 Capacity a) Write the objective function and constraints: Objective: Minimize 6X1A + 5X1B + 3X1C + 8X2A + 1X2B + 8X2C + 11X3A + 14X3B + 18X3C Constraints: X1A + X1B + X1C = 6 X2A + X2B + X2C = 8 X3A + X3B + X3C = 1 X1A + X2A + X3A = 7 X1B + X2B + X3B = 12 X1C + X2C + X3C = 5 Plus 9 nonnegativity constraints: all variables (cells) must be at least.

13 Problem C.1, HR7E Transportation Problem R. Saltzman To From Los Angeles Calgary Panama City Supply Mexico City $ 6 $ 18 $ 8 1 Detroit $ 17 $ 13 $ 19 6 Ottawa $ 2 $ 1 $ 24 4 Demand a) Find an initial solution using the northwest-corner method: To From Los Angeles Calgary Panama City Supply Mexico City Detroit Ottawa 4 4 Demand b) Find an initial solution using the lowest-cost method: To From Los Angeles Calgary Panama City Supply Mexico City Detroit Ottawa 4 4 Demand c) The total cost of the northwest-corner solution = $ 3,12 The total cost of the lowest-cost solution = $ 2,

Introduction to Operations Research

Introduction to Operations Research Introduction to Operations Research Unit 1: Linear Programming Terminology and formulations LP through an example Terminology Additional Example 1 Additional example 2 A shop can make two types of sweets

More information

Non-negativity: negativity:

Non-negativity: negativity: Chapter 3 Linear Programming Applications The process of problem formulation Marketing and media applications Financial Applications Transportation Problem The process of problem formulation 1. Provide

More information

y 3 z x 1 x 2 e 1 a 1 a 2 RHS 1 0 (6 M)/3 M 0 (3 5M)/3 10M/ / /3 10/ / /3 4/3

y 3 z x 1 x 2 e 1 a 1 a 2 RHS 1 0 (6 M)/3 M 0 (3 5M)/3 10M/ / /3 10/ / /3 4/3 AMS 341 (Fall, 2016) Exam 2 - Solution notes Estie Arkin Mean 68.9, median 71, top quartile 82, bottom quartile 58, high (3 of them!), low 14. 1. (10 points) Find the dual of the following LP: Min z =

More information

PERT 12 Quantitative Tools (1)

PERT 12 Quantitative Tools (1) PERT 12 Quantitative Tools (1) Proses keputusan dalam operasi Fundamental Decisin Making, Tabel keputusan. Konsep Linear Programming Problem Formulasi Linear Programming Problem Penyelesaian Metode Grafis

More information

Continuing Education Course #287 Engineering Methods in Microsoft Excel Part 2: Applied Optimization

Continuing Education Course #287 Engineering Methods in Microsoft Excel Part 2: Applied Optimization 1 of 6 Continuing Education Course #287 Engineering Methods in Microsoft Excel Part 2: Applied Optimization 1. Which of the following is NOT an element of an optimization formulation? a. Objective function

More information

DUALITY AND SENSITIVITY ANALYSIS

DUALITY AND SENSITIVITY ANALYSIS DUALITY AND SENSITIVITY ANALYSIS Understanding Duality No learning of Linear Programming is complete unless we learn the concept of Duality in linear programming. It is impossible to separate the linear

More information

Linear Programming Formulations

Linear Programming Formulations Linear Programming Formulations For these problems you need to answer sensitivity analysis questions using excel. These questions appear in italic fonts. The excel files are available on the course website.

More information

56:171 Operations Research Homework #8 Solution -- Fall Estimated resale price A: Private $ $600 B: Dealer $

56:171 Operations Research Homework #8 Solution -- Fall Estimated resale price A: Private $ $600 B: Dealer $ 56:171 Operations Research Homework #8 Solution -- Fall 2002 1. Decision Analysis (an exercise from Operations Research: a Practical Introduction, by M. Carter & C. Price) Suppose that you are in the position

More information

INTERNATIONAL UNIVERSITY OF JAPAN Public Management and Policy Analysis Program Graduate School of International Relations

INTERNATIONAL UNIVERSITY OF JAPAN Public Management and Policy Analysis Program Graduate School of International Relations Hun Myoung Park (4/18/2018) LP Interpretation: 1 INTERNATIONAL UNIVERSITY OF JAPAN Public Management and Policy Analysis Program Graduate School of International Relations DCC5350 (2 Credits) Public Policy

More information

Assignment 2 Answers Introduction to Management Science 2003

Assignment 2 Answers Introduction to Management Science 2003 Assignment Answers Introduction to Management Science 00. a. Top management will need to know how much to produce in each quarter. Thus, the decisions are the production levels in quarters,,, and. The

More information

Lecture 3. Understanding the optimizer sensitivity report 4 Shadow (or dual) prices 4 Right hand side ranges 4 Objective coefficient ranges

Lecture 3. Understanding the optimizer sensitivity report 4 Shadow (or dual) prices 4 Right hand side ranges 4 Objective coefficient ranges Decision Models Lecture 3 1 Lecture 3 Understanding the optimizer sensitivity report 4 Shadow (or dual) prices 4 Right hand side ranges 4 Objective coefficient ranges Bidding Problems Summary and Preparation

More information

An Introduction to Linear Programming (LP)

An Introduction to Linear Programming (LP) An Introduction to Linear Programming (LP) How to optimally allocate scarce resources! 1 Please hold your applause until the end. What is a Linear Programming A linear program (LP) is an optimization problem

More information

Graphical Sensitivity Analysis

Graphical Sensitivity Analysis What if there is uncertainly about one or more values in the LP model? Sensitivity analysis allows us to determine how sensitive the optimal solution is to changes in data values. This includes analyzing

More information

GBA 334 Module 7 Practice Problem Solutions

GBA 334 Module 7 Practice Problem Solutions Chapter 0 Problem 36 GBA 334 Module 7 Practice Problem Solutions Let: X = number of coconuts carried X2 = number of skins carried Maximize profit = 60X + 0X2 (in rupees) Subject to: 5X + 5X2 0 pounds X

More information

Mathematics for Management Science Notes 07 prepared by Professor Jenny Baglivo

Mathematics for Management Science Notes 07 prepared by Professor Jenny Baglivo Mathematics for Management Science Notes 07 prepared by Professor Jenny Baglivo Jenny A. Baglivo 2002. All rights reserved. Calculus and nonlinear programming (NLP): In nonlinear programming (NLP), either

More information

Product Mix Problem: Fifth Avenue Industries. Linear Programming (LP) Can Be Used for Many Managerial Decisions:

Product Mix Problem: Fifth Avenue Industries. Linear Programming (LP) Can Be Used for Many Managerial Decisions: Linear Programming (LP) Can Be Used for Many Managerial Decisions: Product mix Make-buy Media selection Marketing research Portfolio selection Shipping & transportation Multiperiod scheduling For a particular

More information

COMM 290 MIDTERM REVIEW SESSION ANSWER KEY BY TONY CHEN

COMM 290 MIDTERM REVIEW SESSION ANSWER KEY BY TONY CHEN COMM 290 MIDTERM REVIEW SESSION ANSWER KEY BY TONY CHEN TABLE OF CONTENTS I. Vocabulary Overview II. Solving Algebraically and Graphically III. Understanding Graphs IV. Fruit Juice Excel V. More on Sensitivity

More information

Optimization Methods in Management Science

Optimization Methods in Management Science Problem Set Rules: Optimization Methods in Management Science MIT 15.053, Spring 2013 Problem Set 6, Due: Thursday April 11th, 2013 1. Each student should hand in an individual problem set. 2. Discussing

More information

Operations Research I: Deterministic Models

Operations Research I: Deterministic Models AMS 341 (Spring, 2010) Estie Arkin Operations Research I: Deterministic Models Exam 1: Thursday, March 11, 2010 READ THESE INSTRUCTIONS CAREFULLY. Do not start the exam until told to do so. Make certain

More information

{List Sales (1 Trade Discount) Total Cost} (1 Tax Rate) = 0.06K

{List Sales (1 Trade Discount) Total Cost} (1 Tax Rate) = 0.06K FINAL CA MAY 2018 ADVANCED MANAGEMENT ACCOUNTING Test Code F84 Branch: Date : 04.03.2018 (50 Marks) Note: All questions are compulsory. Question 1(4 Marks) (c) Selling Price to Yield 20% Return on Investment

More information

MgtOp 470 Business Modeling with Spreadsheets Washington State University Sample Final Exam

MgtOp 470 Business Modeling with Spreadsheets Washington State University Sample Final Exam MgtOp 470 Business Modeling with Spreadsheets Washington State University Sample Final Exam Section 1 Multiple Choice 1. An information desk at a rest stop receives requests for assistance (from one server).

More information

Continuous Probability Distributions

Continuous Probability Distributions Continuous Probability Distributions Chapter 07 McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. LEARNING OBJECTIVES LO 7-1 List the characteristics of the uniform

More information

Operations Research I: Deterministic Models

Operations Research I: Deterministic Models AMS 341 (Spring, 2009) Estie Arkin Operations Research I: Deterministic Models Exam 1: Thursday, March 12, 2009 READ THESE INSTRUCTIONS CAREFULLY. Do not start the exam until told to do so. Make certain

More information

Sensitivity Analysis LINDO INPUT & RESULTS. Maximize 7X1 + 10X2. Subject to X1 < 500 X2 < 500 X1 + 2X2 < 960 5X1 + 6X2 < 3600 END

Sensitivity Analysis LINDO INPUT & RESULTS. Maximize 7X1 + 10X2. Subject to X1 < 500 X2 < 500 X1 + 2X2 < 960 5X1 + 6X2 < 3600 END Sensitivity Analysis Sensitivity Analysis is used to see how the optimal solution is affected by the objective function coefficients and to see how the optimal value is affected by the right- hand side

More information

56:171 Operations Research Midterm Examination October 25, 1991 PART ONE

56:171 Operations Research Midterm Examination October 25, 1991 PART ONE 56:171 O.R. Midterm Exam - 1 - Name or Initials 56:171 Operations Research Midterm Examination October 25, 1991 Write your name on the first page, and initial the other pages. Answer both questions of

More information

Optimizing the service of the Orange Line

Optimizing the service of the Orange Line Optimizing the service of the Orange Line Overview Increased crime rate in and around campus Shuttle-UM Orange Line 12:00am 3:00am late night shift A student standing or walking on and around campus during

More information

Part 1: Developing an Investment Plan

Part 1: Developing an Investment Plan Latisha Develops an Investment Plan Student Activity 1 Part 1: Developing an Investment Plan Latisha is considering placing up to $12,000 in a combination of three different one-time investments. Each

More information

MODULE-1 ASSIGNMENT-2

MODULE-1 ASSIGNMENT-2 MODULE-1 ASSIGNMENT-2 An investor has Rs 20 lakhs with her and considers three schemes to invest the money for one year. The expected returns are 10%, 12% and 15% for the three schemes per year. The third

More information

Operation Research II

Operation Research II Operation Research II Johan Oscar Ong, ST, MT Grading Requirements: Min 80% Present in Class Having Good Attitude Score/Grade : Quiz and Assignment : 30% Mid test (UTS) : 35% Final Test (UAS) : 35% No

More information

V. Luis Buendia Controller, Accounting & Disbursements Division

V. Luis Buendia Controller, Accounting & Disbursements Division LOS ANGELES UNIFIED SCHOOL DISTRICT POLICY BULLETIN TITLE: NUMBER: ISSUER: Business Mileage Reimbursement BUL-6873.0 Alma Peña-Sanchez, Chief of Staff Office of the Superintendent V. Luis Buendia Controller,

More information

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming: Sensitivity Analysis and Interpretation of Solution 8 Linear Programming: Sensitivity Analysis and Interpretation of Solution MULTIPLE CHOICE. To solve a linear programming problem with thousands of variables and constraints a personal computer can be use

More information

Chapter 2 Linear programming... 2 Chapter 3 Simplex... 4 Chapter 4 Sensitivity Analysis and duality... 5 Chapter 5 Network... 8 Chapter 6 Integer

Chapter 2 Linear programming... 2 Chapter 3 Simplex... 4 Chapter 4 Sensitivity Analysis and duality... 5 Chapter 5 Network... 8 Chapter 6 Integer 目录 Chapter 2 Linear programming... 2 Chapter 3 Simplex... 4 Chapter 4 Sensitivity Analysis and duality... 5 Chapter 5 Network... 8 Chapter 6 Integer Programming... 10 Chapter 7 Nonlinear Programming...

More information

Solving Examples of Linear Programming Models

Solving Examples of Linear Programming Models Solving Examples of Linear Programming Models Chapter 4 Copyright 2013 Pearson Education 4-1 Chapter Topics 1. A Product Mix Example 2. A Diet Example 3. An Investment Example 4. A Marketing Example 5.

More information

36106 Managerial Decision Modeling Sensitivity Analysis

36106 Managerial Decision Modeling Sensitivity Analysis 1 36106 Managerial Decision Modeling Sensitivity Analysis Kipp Martin University of Chicago Booth School of Business September 26, 2017 Reading and Excel Files 2 Reading (Powell and Baker): Section 9.5

More information

Continuous Probability Distributions

Continuous Probability Distributions Continuous Probability Distributions Chapter 7 McGraw-Hill/Irwin Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved. GOALS 1. Understand the difference between discrete and continuous

More information

Note on Using Excel to Compute Optimal Risky Portfolios. Candie Chang, Hong Kong University of Science and Technology

Note on Using Excel to Compute Optimal Risky Portfolios. Candie Chang, Hong Kong University of Science and Technology Candie Chang, Hong Kong University of Science and Technology Andrew Kaplin, Kellogg Graduate School of Management, NU Introduction This document shows how to, (1) Compute the expected return and standard

More information

FINANCIAL OPTIMIZATION

FINANCIAL OPTIMIZATION FINANCIAL OPTIMIZATION Lecture 2: Linear Programming Philip H. Dybvig Washington University Saint Louis, Missouri Copyright c Philip H. Dybvig 2008 Choose x to minimize c x subject to ( i E)a i x = b i,

More information

Lecture 2. A Telephone Staffing Problem TransportCo Distribution Problem Shelby Shelving Case Summary and Preparation for next class

Lecture 2. A Telephone Staffing Problem TransportCo Distribution Problem Shelby Shelving Case Summary and Preparation for next class Decision Models Lecture 2 1 Lecture 2 A Telephone Staffing Problem TransportCo Distribution Problem Shelby Shelving Case Summary and Preparation for next class Decision Models Lecture 2 2 A Telephone Staffing

More information

February 24, 2005

February 24, 2005 15.053 February 24, 2005 Sensitivity Analysis and shadow prices Suggestion: Please try to complete at least 2/3 of the homework set by next Thursday 1 Goals of today s lecture on Sensitivity Analysis Changes

More information

Chapter Two: Linear Programming: Model Formulation and Graphical Solution

Chapter Two: Linear Programming: Model Formulation and Graphical Solution Chapter Two: Linear Programming: Model Formulation and Graphical Solution PROBLEM SUMMARY 1. Maximization (1 28 continuation), graphical solution 2. Minimization, graphical solution 3. Sensitivity analysis

More information

The homework is due on Wednesday, September 7. Each questions is worth 0.8 points. No partial credits.

The homework is due on Wednesday, September 7. Each questions is worth 0.8 points. No partial credits. Homework : Econ500 Fall, 0 The homework is due on Wednesday, September 7. Each questions is worth 0. points. No partial credits. For the graphic arguments, use the graphing paper that is attached. Clearly

More information

Econ 172A, W2002: Final Examination, Solutions

Econ 172A, W2002: Final Examination, Solutions Econ 172A, W2002: Final Examination, Solutions Comments. Naturally, the answers to the first question were perfect. I was impressed. On the second question, people did well on the first part, but had trouble

More information

Lecture 3: Common Business Applications and Excel Solver

Lecture 3: Common Business Applications and Excel Solver Lecture 3: Common Business Applications and Excel Solver Common Business Applications Linear Programming (LP) can be used for many managerial decisions: - Product mix - Media selection - Marketing research

More information

The application of linear programming to management accounting

The application of linear programming to management accounting The application of linear programming to management accounting After studying this chapter, you should be able to: formulate the linear programming model and calculate marginal rates of substitution and

More information

Lesson Topics. B.3 Integer Programming Review Questions

Lesson Topics. B.3 Integer Programming Review Questions Lesson Topics Rounding Off (5) solutions in continuous variables to the nearest integer (like 2.67 rounded off to 3) is an unreliable way to solve a linear programming problem when decision variables should

More information

Homework #2 Graphical LP s.

Homework #2 Graphical LP s. UNIVERSITY OF MASSACHUSETTS Isenberg School of Management Department of Finance and Operations Management FOMGT 353-Introduction to Management Science Homework #2 Graphical LP s. Show your work completely

More information

Advanced Operations Research Prof. G. Srinivasan Dept of Management Studies Indian Institute of Technology, Madras

Advanced Operations Research Prof. G. Srinivasan Dept of Management Studies Indian Institute of Technology, Madras Advanced Operations Research Prof. G. Srinivasan Dept of Management Studies Indian Institute of Technology, Madras Lecture 23 Minimum Cost Flow Problem In this lecture, we will discuss the minimum cost

More information

TCM Final Review Packet Name Per.

TCM Final Review Packet Name Per. TCM Final Review Packet Name Per. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Translate the statement into a formula. 1) The total distance traveled,

More information

Developing Optimized Maintenance Work Programs for an Urban Roadway Network using Pavement Management System

Developing Optimized Maintenance Work Programs for an Urban Roadway Network using Pavement Management System Developing Optimized Maintenance Work Programs for an Urban Roadway Network using Pavement Management System M. Arif Beg, PhD Principal Consultant, AgileAssets Inc. Ambarish Banerjee, PhD Consultant, AgileAssets

More information

Subject O Basic of Operation Research (D-01) Date O 20/04/2011 Time O 11.00 to 02.00 Q.1 Define Operation Research and state its relation with decision making. (14) What are the opportunities and short

More information

Homework solutions, Chapter 8

Homework solutions, Chapter 8 Homework solutions, Chapter 8 NOTE: We might think of 8.1 as being a section devoted to setting up the networks and 8.2 as solving them, but only 8.2 has a homework section. Section 8.2 2. Use Dijkstra

More information

Chapter 7 An Introduction to Linear Programming

Chapter 7 An Introduction to Linear Programming n Introduction to Linear Programming Learning Objectives 1. Obtain an overview of the kinds of problems linear programming has been used to solve. 2. Learn how to develop linear programming models for

More information

BINARY LINEAR PROGRAMMING AND SIMULATION FOR CAPITAL BUDGEETING

BINARY LINEAR PROGRAMMING AND SIMULATION FOR CAPITAL BUDGEETING BINARY LINEAR PROGRAMMING AND SIMULATION FOR CAPITAL BUDGEETING Dennis Togo, Anderson School of Management, University of New Mexico, Albuquerque, NM 87131, 505-277-7106, togo@unm.edu ABSTRACT Binary linear

More information

Maximizing Operations Processes of a Potential World Class University Using Mathematical Model

Maximizing Operations Processes of a Potential World Class University Using Mathematical Model American Journal of Applied Mathematics 2015; 3(2): 59-63 Published online March 20, 2015 (http://www.sciencepublishinggroup.com/j/ajam) doi: 10.11648/j.ajam.20150302.15 ISSN: 2330-0043 (Print); ISSN:

More information

Solution to P2 Sensitivity at the Major Electric Company

Solution to P2 Sensitivity at the Major Electric Company Solution to P2 Sensitivity at the Major Electric Company 1.(a) Are there alternate optimal solutions? Yes or no. (b) If yes, which nonbasic variables could enter the basis without changing the value of

More information

Duality & The Dual Simplex Method & Sensitivity Analysis for Linear Programming. Metodos Cuantitativos M. En C. Eduardo Bustos Farias 1

Duality & The Dual Simplex Method & Sensitivity Analysis for Linear Programming. Metodos Cuantitativos M. En C. Eduardo Bustos Farias 1 Dualit & The Dual Simple Method & Sensitivit Analsis for Linear Programming Metodos Cuantitativos M. En C. Eduardo Bustos Farias Dualit EverLP problem has a twin problem associated with it. One problem

More information

Optimization Methods in Management Science

Optimization Methods in Management Science Optimization Methods in Management Science MIT 1.3 Recitation 1 TAs: Giacomo Nannicini, Ebrahim Nasrabadi Problem 1 You create your own start-up company that caters high-quality organic food directly to

More information

9. Linear Programming Applications in Marketing, Finance, and Operations Management MULTIPLE CHOICE

9. Linear Programming Applications in Marketing, Finance, and Operations Management MULTIPLE CHOICE 9. Linear Programming Applications in Marketing, Finance, and Operations Management MULTIPLE CHOICE 1. Media selection problems usually determine how many times to use each media source. the coverage provided

More information

Dennis L. Bricker Dept. of Industrial Engineering The University of Iowa

Dennis L. Bricker Dept. of Industrial Engineering The University of Iowa Dennis L. Bricker Dept. of Industrial Engineering The University of Iowa 56:171 Operations Research Homework #1 - Due Wednesday, August 30, 2000 In each case below, you must formulate a linear programming

More information

Mathematics for Management Science Notes 06 prepared by Professor Jenny Baglivo

Mathematics for Management Science Notes 06 prepared by Professor Jenny Baglivo Mathematics for Management Science Notes 0 prepared by Professor Jenny Baglivo Jenny A. Baglivo 00. All rights reserved. Integer Linear Programming (ILP) When the values of the decision variables in a

More information

4. Introduction to Prescriptive Analytics. BIA 674 Supply Chain Analytics

4. Introduction to Prescriptive Analytics. BIA 674 Supply Chain Analytics 4. Introduction to Prescriptive Analytics BIA 674 Supply Chain Analytics Why is Decision Making difficult? The biggest sources of difficulty for decision making: Uncertainty Complexity of Environment or

More information

ENGG OPT TECHNIQUES Fall 2008 SOLVED EXAMPLES

ENGG OPT TECHNIQUES Fall 2008 SOLVED EXAMPLES EXAMPLE 1 HILLIARD Electronics produces specially coded chips for laser surgery in 256MB and 512MB (MB stands for megabyte; where one megabyte is roughly equal to one million characters of information).

More information

DM559/DM545 Linear and integer programming

DM559/DM545 Linear and integer programming Department of Mathematics and Computer Science University of Southern Denmark, Odense May 22, 2018 Marco Chiarandini DM559/DM55 Linear and integer programming Sheet, Spring 2018 [pdf format] Contains Solutions!

More information

Optimization Methods in Management Science

Optimization Methods in Management Science Optimization Methods in Management Science MIT 15.053, Spring 013 Problem Set (Second Group of Students) Students with first letter of surnames I Z Due: February 1, 013 Problem Set Rules: 1. Each student

More information

$B$8 B&D

$B$8 B&D 1. An Excel Solver sensitivity report for a linear programming model is given below. INTERPRET ALL of the information given for decision variable C (Adjustable Cells Table) and constraint C&D ( Table).

More information

Sensitivity Analysis with Data Tables. 10% annual interest now =$110 one year later. 10% annual interest now =$121 one year later

Sensitivity Analysis with Data Tables. 10% annual interest now =$110 one year later. 10% annual interest now =$121 one year later Sensitivity Analysis with Data Tables Time Value of Money: A Special kind of Trade-Off: $100 @ 10% annual interest now =$110 one year later $110 @ 10% annual interest now =$121 one year later $100 @ 10%

More information

Applications of Linear Programming

Applications of Linear Programming Applications of Linear Programming lecturer: András London University of Szeged Institute of Informatics Department of Computational Optimization Lecture 8 The portfolio selection problem The portfolio

More information

Decision-making under conditions of risk and uncertainty

Decision-making under conditions of risk and uncertainty Decision-making under conditions of risk and uncertainty Solutions to Chapter 12 questions (a) Profit and Loss Statement for Period Ending 31 May 2000 Revenue (14 400 000 journeys): 0 3 miles (7 200 000

More information

Setting Up Linear Programming Problems

Setting Up Linear Programming Problems Setting Up Linear Programming Problems A company produces handmade skillets in two sizes, big and giant. To produce one big skillet requires 3 lbs of iron and 6 minutes of labor. To produce one giant skillet

More information

IE312 Optimization: Homework #5 Solution Fall Due on Oct. 29, 2010

IE312 Optimization: Homework #5 Solution Fall Due on Oct. 29, 2010 IE312 Optimization: Homework #5 Solution Fall 2010 Due on Oct. 29, 2010 1 1 (Problem 2 - p. 254) LINGO model: SETS: types / 1 2 / : lbound, ruby, diamond, price, cost, x; ENDSETS DATA: lbound = 11 0; ruby

More information

13.3 A Stochastic Production Planning Model

13.3 A Stochastic Production Planning Model 13.3. A Stochastic Production Planning Model 347 From (13.9), we can formally write (dx t ) = f (dt) + G (dz t ) + fgdz t dt, (13.3) dx t dt = f(dt) + Gdz t dt. (13.33) The exact meaning of these expressions

More information

Chapter 10: Price Competition Learning Objectives Suggested Lecture Outline: Lecture 1: Lecture 2: Suggestions for the Instructor:

Chapter 10: Price Competition Learning Objectives Suggested Lecture Outline: Lecture 1: Lecture 2: Suggestions for the Instructor: Chapter 0: Price Competition Learning Objectives Students should learn to:. Understand the logic behind the ertrand model of price competition, the idea of discontinuous reaction functions, how to solve

More information

Data Furnisher Announcement Reporting of Compliance Condition Codes

Data Furnisher Announcement Reporting of Compliance Condition Codes Data Furnisher Announcement Reporting of should be used to report: Accounts closed at consumer s request Accounts in dispute under the Fair Credit Billing Act (FCBA) Accounts in dispute under the Fair

More information

In the Real World Problem-Solving: Using Slope READ-PLAN-DO-CHECK

In the Real World Problem-Solving: Using Slope READ-PLAN-DO-CHECK --- How far can you walk in an hour, if you walk two miles an hour (2 mph)? The distance you travel changes with the amount of time you travel. You can describe the change in distance compared with the

More information

INEN 420 Final Project. Rhoda Daniel Javier

INEN 420 Final Project. Rhoda Daniel Javier INEN 420 Final Project Rhoda Daniel Javier Grummins Engine Company Facts Produces 2 types of diesel trucks (

More information

Problem Set 2: Answers

Problem Set 2: Answers Economics 623 J.R.Walker Page 1 Problem Set 2: Answers The problem set came from Michael A. Trick, Senior Associate Dean, Education and Professor Tepper School of Business, Carnegie Mellon University.

More information

OPTIMIZAÇÃO E DECISÃO 10/11

OPTIMIZAÇÃO E DECISÃO 10/11 OPTIMIZAÇÃO E DECISÃO 10/11 PL #1 Linear Programming Alexandra Moutinho (from Hillier & Lieberman Introduction to Operations Research, 8 th edition) The Wyndor Glass Co. Problem Wyndor Glass Co. produces

More information

Lec 1: Single Agent Dynamic Models: Nested Fixed Point Approach. K. Sudhir MGT 756: Empirical Methods in Marketing

Lec 1: Single Agent Dynamic Models: Nested Fixed Point Approach. K. Sudhir MGT 756: Empirical Methods in Marketing Lec 1: Single Agent Dynamic Models: Nested Fixed Point Approach K. Sudhir MGT 756: Empirical Methods in Marketing RUST (1987) MODEL AND ESTIMATION APPROACH A Model of Harold Zurcher Rust (1987) Empirical

More information

56:171 Operations Research Midterm Examination October 28, 1997 PART ONE

56:171 Operations Research Midterm Examination October 28, 1997 PART ONE 56:171 Operations Research Midterm Examination October 28, 1997 Write your name on the first page, and initial the other pages. Answer both questions of Part One, and 4 (out of 5) problems from Part Two.

More information

Chapter 9 Integer Programming Part 1. Prof. Dr. Arslan M. ÖRNEK

Chapter 9 Integer Programming Part 1. Prof. Dr. Arslan M. ÖRNEK Chapter 9 Integer Programming Part 1 Prof. Dr. Arslan M. ÖRNEK Integer Programming An integer programming problem (IP) is an LP in which some or all of the variables are required to be non-negative integers.

More information

Ex: Globalization of the economy has led to transnational (multinational) corporations. Because of globalization there is more interconnectedness

Ex: Globalization of the economy has led to transnational (multinational) corporations. Because of globalization there is more interconnectedness 1 Ex: Globalization of the economy has led to transnational (multinational) corporations. Because of globalization there is more interconnectedness across national boundaries. 2 Int l trade agreements

More information

CHERRIOTS 2018 SERVICE PLAN APPENDIX A EQUITY ANALYSIS

CHERRIOTS 2018 SERVICE PLAN APPENDIX A EQUITY ANALYSIS CHERRIOTS 2018 SERVICE PLAN APPENDIX A EQUITY ANALYSIS 1. Background... 1 2. Title VI requirements... 1 3. SAMTD Title VI compliance... 2 3.1 Major service changes policy... 2 3.2 Definition of adverse

More information

Quantitative Analysis for Management Linear Programming Models:

Quantitative Analysis for Management Linear Programming Models: Quantitative Analysis for Management Linear Programming Models: 7-000 by Prentice Hall, Inc., Upper Saddle River, Linear Programming Problem. Tujuan adalah maximize or minimize variabel dependen dari beberapa

More information

56:171 Operations Research Midterm Exam Solutions Fall 1994

56:171 Operations Research Midterm Exam Solutions Fall 1994 56:171 Operations Research Midterm Exam Solutions Fall 1994 Possible Score A. True/False & Multiple Choice 30 B. Sensitivity analysis (LINDO) 20 C.1. Transportation 15 C.2. Decision Tree 15 C.3. Simplex

More information

It s your Money: Understanding the Transportation State Subsidy Report and Maximizing your Reimbursement

It s your Money: Understanding the Transportation State Subsidy Report and Maximizing your Reimbursement It s your Money: Understanding the Transportation State Subsidy Report and Maximizing your Reimbursement Burt Blackburn, Transportation Director, Radnor Township School District Chris Gray, Coordinator

More information

LINEAR PROGRAMMING. Homework 7

LINEAR PROGRAMMING. Homework 7 LINEAR PROGRAMMING Homework 7 Fall 2014 Csci 628 Megan Rose Bryant 1. Your friend is taking a Linear Programming course at another university and for homework she is asked to solve the following LP: Primal:

More information

THE UNIVERSITY OF TEXAS AT AUSTIN McCombs School of Business

THE UNIVERSITY OF TEXAS AT AUSTIN McCombs School of Business THE UNIVERSIT OF TEXAS AT AUSTIN McCombs School of Business STA 37.5 Tom Shively SIMPLE EXPONENTIAL SMOOTHING MODELS The statistical model for simple exponential smoothing is t = M t- + ε t ε t iid N(0,

More information

1.2: USING ALGEBRA(meaning no calculators), find the Intersection of the two Lines.

1.2: USING ALGEBRA(meaning no calculators), find the Intersection of the two Lines. Math 125 Final Exam Practice HAPTE 1: 1.1: List the Intercepts of each Equation and then sketch the graph 18x+ 10y = 90 b) 16x+ 24y = 432 c) 25x+ 10y = 500 1.2: USING ALGEBA(meaning no calculators), find

More information

Homework. Part 1. Computer Implementation: Solve Wilson problem by the Lindo and compare the results with your graphical solution.

Homework. Part 1. Computer Implementation: Solve Wilson problem by the Lindo and compare the results with your graphical solution. Homework. Part 1. Computer Implementation: Solve Wilson problem by the Lindo and compare the results with your graphical solution. Graphical Solution is attached to email. Lindo The results of the Wilson

More information

Sunset Company: Risk Analysis For Capital Budgeting Using Simulation And Binary Linear Programming Dennis F. Togo, University of New Mexico

Sunset Company: Risk Analysis For Capital Budgeting Using Simulation And Binary Linear Programming Dennis F. Togo, University of New Mexico Sunset Company: Risk Analysis For Capital Budgeting Using Simulation And Binary Linear Programming Dennis F. Togo, University of New Mexico ABSTRACT The Sunset Company case illustrates how the study of

More information

56:171 Operations Research Midterm Examination Solutions PART ONE

56:171 Operations Research Midterm Examination Solutions PART ONE 56:171 Operations Research Midterm Examination Solutions Fall 1997 Write your name on the first page, and initial the other pages. Answer both questions of Part One, and 4 (out of 5) problems from Part

More information

Program Summary Superintendent

Program Summary Superintendent Program Summary Superintendent 2016-17 2017-18 Over(Under) Budget By 2014-15 2015-16 Approved Approved 2016-17 Program Section Actuals Actuals Budget Budget Approved Superintendent's Office 372,978 393,622

More information

GAME THEORY. Game theory. The odds and evens game. Two person, zero sum game. Prototype example

GAME THEORY. Game theory. The odds and evens game. Two person, zero sum game. Prototype example Game theory GAME THEORY (Hillier & Lieberman Introduction to Operations Research, 8 th edition) Mathematical theory that deals, in an formal, abstract way, with the general features of competitive situations

More information

3.3 - One More Example...

3.3 - One More Example... c Kathryn Bollinger, September 28, 2005 1 3.3 - One More Example... Ex: (from Tan) Solve the following LP problem using the Method of Corners. Kane Manufacturing has a division that produces two models

More information

S-Corporation: EIN Name Date Incorporated Date of S-Election Address: Mailing Address Suite # City State Zip Code

S-Corporation: EIN Name Date Incorporated Date of S-Election Address: Mailing Address Suite # City State Zip Code S-Corporation: EIN Name Date Incorporated Date of S-Election Address: Mailing Address Suite # City State Zip Code Contact Name: Email: Contact Phones: (Office) (Home) (Mobile) Contact Mailing Address Suite

More information

Cost-Volume-Profit. LO 1: Apply Concepts

Cost-Volume-Profit. LO 1: Apply Concepts Review Terms Cost-Volume-Profit Analysis Cost-Volume-Profit Income Statement Contribution Margin Unit Contribution Margin Breakeven Point Contribution Margin Ratio Cost-Volume-Profit LO 1: Apply Concepts

More information

56:171 Operations Research Midterm Exam Solutions October 19, 1994

56:171 Operations Research Midterm Exam Solutions October 19, 1994 56:171 Operations Research Midterm Exam Solutions October 19, 1994 Possible Score A. True/False & Multiple Choice 30 B. Sensitivity analysis (LINDO) 20 C.1. Transportation 15 C.2. Decision Tree 15 C.3.

More information

Program Summary Administrative Services

Program Summary Administrative Services Program Summary Administrative Services 2016-17 2017-18 Over(Under) Budget By 2014-15 2015-16 Approved Approved 2016-17 Program Section Actuals Actuals Budget Budget Approved Administrative Services Office

More information

CSCI 1951-G Optimization Methods in Finance Part 00: Course Logistics Introduction to Finance Optimization Problems

CSCI 1951-G Optimization Methods in Finance Part 00: Course Logistics Introduction to Finance Optimization Problems CSCI 1951-G Optimization Methods in Finance Part 00: Course Logistics Introduction to Finance Optimization Problems January 26, 2018 1 / 24 Basic information All information is available in the syllabus

More information

Confidence Interval and Hypothesis Testing: Exercises and Solutions

Confidence Interval and Hypothesis Testing: Exercises and Solutions Confidence Interval and Hypothesis Testing: Exercises and Solutions You can use the graphical representation of the normal distribution to solve the problems. Exercise 1: Confidence Interval A sample of

More information