Linear Optimization in Excel - Step by Step Project
Expert Excel With Dr. Chang - Step by Step Project (#1)
Linear Optimization in Excel
This episode is a Step by Step Project that explains how to solve Linear Optimization Problems in Excel.
Details of Linear Optimization Problems would be provided in a future date and time.
The example problem is attached at the end of the description.
To do linear optimization problems, the Solver Add-in needs to be setup.
After setting up the Solver Add-in, the problem must be setup in the worksheet where the objective function (e.g. Profit), constraints, and order quantity have to be setup and calculated. The video shows the setup and adding conditional formatting so that the user can do manual changes with the order quantity to see the results.
Once the worksheet is setup, the usage of the solver add-in is used for solving the Linear programming problem.
Solution File Provided:
https://bit.ly/3AqZ9Ow
By Asst. Prof. Dr. Pisal Setthawong
Department of Digital Business Management
Assumption University
Facebook:
/ pisal.setthawong
Twitter:
@PisalST
Music Credits:
Cyberleaf Studio - TechShow Loop 1
Example Problem Solved in This Episode
==
Plastic Cookery Manufacturer
A small plastic cookery manufacturer wants to optimize their production to maximize their profit. They produce plastic dishes and plastic cookery at their factory.
The potential profit on a pack of plastic dishes is 500 THB.
The potential profit on a pack of plastic cookery is 400 THB.
To produce 1 pack of plastic dishes, 20kg of plastic is used.
To produce 1 pack of plastic cookery, 14kg of plastic is used.
The manufacturer is limited to 1500kg total plastic per day.
The machine for dishes can use the maximum of 900kg of plastic per day.
The machine for cookery can use the maximum of 700kg of plastic per day.
Propose the optimal production mix to maximize the potential daily profit.
Смотрите видео Linear Optimization in Excel - Step by Step Project онлайн без регистрации, длительностью часов минут секунд в хорошем качестве. Это видео добавил пользователь Dr. Chang's IT Stuff 10 Август 2021, не забудьте поделиться им ссылкой с друзьями и знакомыми, на нашем сайте его посмотрели 3 раз и оно понравилось людям.