ADM 2302 Study Guide - Electronic Program Guide, Walmart, Budget Constraint

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Linearity:the impact of decision variables islinear in constraints and objective function; -divisibility:noninteger values of decisionvariables are acceptable; *tricky constraints: 1) % of total production x1/(x1+x2+x3)>0. 5 3) units of x must be more than 5 times y x-5y=0. 2) x must be equal to 2/3 y x-2/3*y=0 4) transhipment problem for centre a x1a+x2a-x10z-xa11=0. 1)assign a variable to each axis 2) plot the constraints (using x intercept-y=0 and y intercept-x=0) 3)determine feasible region ( above constraints if >= and under if. Reports: 1)answer: target cell=minimized or maximized profit, adjustable cells=optimal solution, constraints=binding/non binding and amount of slack. 2)sensitivity: adjustable cells= optimal solution, objective coefficient, allowable inc and dec and reduced cost, constraints=final value, shadow price(max price you are willing to pay for an additional unit) and slack (extra resources available at optimal solution) *shadow price"s range= (final value+allowable inc). (final value-allowable decrease)

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