OMIS 2010 Lecture Notes - Lecture 5: Cubic Foot, Shadow Price, Dialog Box

• School: WLU
• Department: Operations Management and Information System
• Course: OMIS 2010
• Professor: Linda Lakats

Document Summary

Part 1: organize your information for solving an optimization problem in excel: an objective function, decision variables, and. It is simplest to organize these on paper before you start working with the spreadsheet. For tutorial purposes we will follow an example, the. Cargo problem , from start to finish: information needed. A shipping company has the capacity to move 100 tons of cargo per day by air. Besides the weight constraint, the company can only move 50,000 ft3 of cargo per day because of limited volume of aircraft storage compartments. The following amounts of cargo are available for shipping each day: Maximize the profit for the shipping company. (cid:190) set up this problem: Objective function: profit = 250*(cargo1 + cargo2+ cargo3) ($/week) *do not forget to include the trivial constraints! Part 2: set up the problem in the excel spreadsheet. Solver is an add-in for microsoft excel which is typically not enabled during the initial installation of excel.