The purpose of this assignment is to solve business problems using linear optimization techniques and interpret the results to determine optimal solutions for business problems.
Using specified data files, chapter example files, and templates from the “Topic 5 Student Data, Template, and Example Files” topic material, complete Chapter 14, Problems 79 (part a), 80 (part a), 81, 86 (part a), and 89 from the textbook. Use Microsoft Excel’s Solver Add-In to complete these problems. For all problems except 89, run the Solver’s Answer and Sensitivity Reports. Interpret and summarize the key results.
To receive full credit on the assignment, complete the following.
- Ensure that all Solver settings are defined through the use of the Solver dialog box.
- Ensure that Excel files include the associated cell functions and/or formulas if functions and/or formulas are used.
- Include a written response to all narrative questions presented in the problem by placing it in the associated Excel file.
- Include Answer and Sensitivity Reports interpretation and summary of key results.
- Place each problem in its own Excel file. Ensure that your first and last name are in your Excel file names.
APA style is not required, but solid academic writing is expected.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. Also I need two questions answered . Question 1- Many linear optimization problems can be solved by finding a graphical solution, but there are some problems that require more advanced spreadsheets and software to find an optimal solution. Describe an optimization problem in which finding a solution would be impossible using the feasible-region approach. Discuss the attributes the problem would have to make it impossible to solve using the feasible-region approach. Question 2-
Optimization techniques are used in many applications. For example, when customers order products from an online store, the shipper has to determine the optimal way to get the product delivered to the customer. The delivery path that is chosen is the path that minimizes shipping costs while simultaneously satisfying these constraints:
- The product must arrive by a promised date.
- The shipper must deliver a finite set of items.
- The product must originate from one of several warehouse hubs across the country.
Discuss whether there can be multiple solutions (i.e., more than one path to get the product to your house). Explain why. Is there a guarantee that a solution always exists? Explain.