Exam 3: Modeling and Solving Lp Problems in a Spreadsheet

The constraints X₁ $\ge$ 0 and X₂ $\ge$ 0 are referred to as

A heuristic solution is

A paper mill has received an order for rolls of paper. The customer wants 400 12" wide rolls, 300 18" rolls and 200 24" rolls. The company has 40" wide rolls of paper which it can slit to the appropriate width. The company wants to minimize the number of rolls it must use to fill the order. Formulate the LP for this problem.

Models which are setup in an intuitively appealing, logical layout tend to be the most

A company needs to purchase several new machines to meet its future production needs. It can purchase three different types of machines A, B, and C. Each machine A costs $80,000 and requires 2,000 square feet of floor space. Each machine B costs $50,000 and requires 3,000 square feet of floor space. Each machine C costs $40,000 and requires 5,000 square feet of floor space. The machines can produce 200, 250 and 350 units per day respectively. The plant can only afford $500,000 for all the machines and has at most 20,000 square feet of room for the machines. The company wants to buy as many machines as possible to maximize daily production. Formulate the LP for this problem.

Which of the following describes Data Envelopment Analysis (DEA).

Pete's Plastics manufactures plastic at plants in Miami, St. Louis and Cleveland. Pete needs to ship plastic to customers in Pittsburgh, Atlanta and Chicago. He wants to minimize the cost of shipping the plastic from his plants to his customers. The data for the problem is summarized in the following table. Formulate the LP for this problem.

You have been given the following linear programming model and Excel spreadsheet to solve this problem. What formulas should be entered into cells E5 and D8:D10 to implement this model?

You have been given the following linear programming model and Excel spreadsheet to solve this problem. What numbers should be entered into cells B5:C5 and B8:C10 to implement this model?

The "Objective Sense" option in the Risk Solver Platform (RSP) task pane may be used to

A farmer is planning his spring planting. He has 20 acres on which he can plant a combination of Corn, Pumpkins and Beans. He wants to maximize his profit but there is a limited demand for each crop. Each crop also requires fertilizer and irrigation water which are in short supply. There are only 50 acre ft of irrigation available and only 8,000 pounds/acre of fertilizer available. The following table summarizes the data for the problem. Formulate the LP for this problem.

The following questions are based on this problem and accompanying Excel windows. Jack's distillery blends scotches for local bars and saloons. One of his customers has requested a special blend of scotch targeted as a bar scotch. The customer wants the blend to involve two scotch products, call them A and B. Product A is a higher quality scotch while product B is a cheaper brand. The customer wants to make the claim the blend is closer to high quality than the alternative. The customer wants 50 1500 ml bottles of the blend. Each bottle must contain at least 48% of Product A and at least 500 ml of B. The customer also specified that the blend have an alcohol content of at least 85%. Product A contains 95% alcohol while product B contains 78%. The blend is sold for $12.50 per bottle. Product A costs $7 per liter and product B costs $3 per liter. The company wants to determine the blend that will meet the customer's requirements and maximize profit. -Refer to Exhibit 3.3. What formula should be entered in cell D11 in the accompanying Excel spreadsheet to compute the total liters of alcohol supplied?

The following questions are based on this problem and accompanying Excel windows. A financial planner wants to design a portfolio of investments for a client. The client has $300,000 to invest and the planner has identified four investment options for the money. The following requirements have been placed on the planner. No more than 25% of the money in any one investment, at least one third should be invested in long-term bonds which mature in seven or more years, and no more than 25% of the total money should be invested in C or D since they are riskier investments. The planner has developed the following LP model based on the data in this table and the requirements of the client. The objective is to maximize the total return of the portfolio. -Refer to Exhibit 3.4. What formula should be entered in cell D7 in the accompanying Excel spreadsheet to compute the total return?

You have been given the following linear programming model and Excel spreadsheet to solve this problem. What numbers should be entered into cells B5:C5 and B8:C10 to implement this model?

The built-in Solver in Excel is found under which tab on the ribbon?

You have been given the following linear programming model and Excel spreadsheet to solve this problem. What formulas should be entered into cells E5 and D8:D10 to implement this model?

The hospital administrators at New Hope, County General, and City East recently received notice of an impending state inspection of their facilities. Under new guidelines established to improve the overall health care system, state inspectors will be assessing the efficiency of each hospital. The staff at New Hope has suggested a mutual assistance program in preparation for the inspections and have proposed using DEA as a means to assess the efficiency of each facility. The data collected thus far is summarized in the following table. All data reflects averages compiled over the past six months. a.Formulate a DEA LP model to evaluate the efficiency of City East. b.Implement a spreadsheet model for this problem and compute the DEA efficiency for each facility. Which facilities are efficient?

The following questions are based on this problem and accompanying Excel windows. Jones Furniture Company produces beds and desks for college students. The production process requires carpentry and varnishing. Each bed requires 6 hours of carpentry and 4 hour of varnishing. Each desk requires 4 hours of carpentry and 8 hours of varnishing. There are 36 hours of carpentry time and 40 hours of varnishing time available. Beds generate $30 of profit and desks generate $40 of profit. Demand for desks is limited, so at most 8 will be produced. The LP model for the problem is -Refer to Exhibit 3.1. What formula should be entered in cell D8 in the accompanying Excel spreadsheet to compute the amount of carpentry used?

Which command is equivalent to =SUMPRODUCT(A1:A3,B1:B3)?

The following questions are based on this problem and accompanying Excel windows. A financial planner wants to design a portfolio of investments for a client. The client has $300,000 to invest and the planner has identified four investment options for the money. The following requirements have been placed on the planner. No more than 25% of the money in any one investment, at least one third should be invested in long-term bonds which mature in seven or more years, and no more than 25% of the total money should be invested in C or D since they are riskier investments. The planner has developed the following LP model based on the data in this table and the requirements of the client. The objective is to maximize the total return of the portfolio. -Refer to Exhibit 3.4. Which cells are changing cells in the accompanying Excel spreadsheet?