Applied Statistical and Optimization Models

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Applied Statistical and Optimization Models

Applied Statistical and Optimization Models

Applied Statistical and Optimization Models

Presentation transcript:

Applied Statistical and Optimization Models Topic 02: Linear Programming with Excel

Objectives Specify a programming problem in Excel Solve a simple linear programming problem using Excel solver

Linear Programming with Excel This was the Falcons Toys Inc. Optimum

Linear Programming with Excel In order to have Excel solve it for you, you need to program the model like this: Everything that is blue you need to enter and is given information that comes from the problem. Everything that is grey is a formula need to enter.

Linear Programming with Excel In order to have Excel solve it for you, you need to program the model like this: =C3*C4+D3*D4 =$C$3*C6+$D$3*D6 =$C$3*C5+$D$3*D5 =$C$3*C7+$D$3*D7

Linear Programming with Excel Using Excel Solver Make sure you have installed Excel solver If not, go in Excel to File  Options  Add-Ins  Manage Excel Add-ins  check Solver add-in. This is what you need to see

Linear Programming with Excel Open Excel Solver and Enter Relevant Fields

Linear Programming with Excel Then Solve, and Excel will Find the Optimum Solution

What you Should Have Learned Enter a linear programming problem in Excel Set the right settings in Excel’s solver Run Excel solver with confidence