BU288 Study Guide - Midterm Guide: Feasible Region, Resource Allocation, Linear Programming
Document Summary
Absolute reference does not depend on position. Objective cell hops overall measure of performance. Decisions need to be made on the levels of a number of a number of activities so changing cells are used to display these levels. These activity levels can have any value that satisfy a number of constraints. The decisions on activity levels are to be based on an overall measure of performance which is entered in the objective cell to either maximize or minimize. The excel equation for each output cell can be expressed as a sumproduct function where each term in the sum is the product of a data cell and a changing cell. Or convert the verbal description of the constraints and measure of performance into quantitative expressions in terms of the data and decisions. Graphical method solves with less than two decision variables. Unique solution satisfies both constraints and objective function. Alternative solution is multiple optimal solution equaling infinite solutions.
