Microsoft Office Tutorials and References
In Depth Information
Key Terms
Solver
Prescriptive Analysis
Scenario
Goal Seek
Descriptive Analysis
Constrained Optimization
Linear Programming
Decision Variables
Objective Function
Constraints
Technology of LP
Infeasibility
Coefficients
LP Formulation
Target Cell
Changing Cell
Right-Hand Side (RHS)
Slack
Not Binding
Binding
Shadow Price
Allowable Increase
Allowable Decrease
Reduced Cost
Non-Linear Programs (NLP)
Integer Programs (IP)
Mixed Integer Programs (MIP)
0-1 Integer Programs
CUMIMTP
Local Optimum
Problems and Exercises
1. Name 2 types of Prescriptive Analysis and 2 types of Descriptive Analysis.
2. Simulation is to Linear Programming as Descriptive is to ___________?
3. Constrained optimization optimizes an objective function without regard to
factors that constrain the selection of decision variables—T or F?
4. Decision variables in Linear Programming are always integer valued—T or F?
5. Identify the following relationship as either linear of non-linear:
a. 2X + 3Y
=
24
b. 4/X + 3Y 2
=
45
c. 3XY – 8Y
=
0
d. 4X
=
6Y
6. For the following linear programs, what is the solution? Do not use Solver; use
strict observation:
a. Maximize: Z
=
4X; Subject to: X<
=
6
b. Maximize: Z
=
2X + 5Y; Subject to: X
=
5andX+Y<
=
12
c. Minimize: Z
=
12X + 2Y; Subject to: X>
=
3 and Y >
=
4
d. Minimize: Z
=
X – Y; Subject to: X>
=
0 and Y<
=
26
7. Knapsack Problem - Consider a number of possible investments in contracts
for various projects that can fit into a budget (knapsack). Each investment in a
contract has a cost and a return in terms of millions of dollars, and the contracts
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