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You choose the project
- You choose the project. Conduct a Review of the Literature (ROL) on the internet for data on your topic you choose. Use the Integer model to Count the number of people, machines, or vehicles in a project, or the Mixed Integer Model to determine the number of units (integer) and the number of acres (real number) leased. (reference: Power Point slides in Week 8) CoVid reports on your city would be excellent topics. You may want to diagnose your current business, or a potential start-up business. It’s your choice!
- It will be a problem with at least three constraints and at least two decision variables.
- The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions).
- The problem will also include a component that involves sensitivity analysis and the use of the shadow price.
- Instructions
You will be turning in two deliverables, a short writeup of the project, and the spreadsheet showing your work.Writeup
Your writeup should introduce your solution to the project by describing the problem. - Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution.
- Identify each variable and explain the criteria involved in setting up the model. This should be encapsulated in one or two succinct paragraphs.
- After the introductory paragraph, write out the LP model for the problem. Include the objective function and all constraints, including any non-negativity constraints. Then, you should present the optimal solution, based on your work in Excel. Explain what the results mean.
- Finally, write a paragraph addressing the part of the problem pertaining to sensitivity analysis and shadow price.
- Spreadsheet
Please set up your problem in QM for Windows or Excel and find the solution using Solver. - Clearly label the cells in your spreadsheet.
- You will turn in the entire spreadsheet, showing the setup of the model, and the results.
- This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.The specific course learning outcome associated with this assignment is:
- Determine an approach to a problem that uses a linear programming model.
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