Question
i need help with entering the 9 constraints with the excel sheet i provided- the instructions are below Constraints and Running SolverNext you must determine
i need help with entering the 9 constraints with the excel sheet i provided- the instructions are below
Constraints and Running SolverNext you must determine the constraints.
You can assume that the marketing managers think at least 20,000 trucks, 20,000 SUVs, 20,000 sedans, 20,000 compacts, and 8,000 electric vehicles will be made and sold five years from now.Use Solver to enter the base case constraints. You want to maximize total gross margin. Set Solver for GRG Nonlinear mode. Run Solver and ask for the Answer Report when Solver finds a solution that satisfies the constraints.
(the info from the bottom of page 167 is detailed above)
Constraints and Running Solver - p 167 1. Enter Solver to add the following details a. The objective is to maximize the Gross Margin. (color this cell in your worksheet to the same color you set in the legend.) b. Set the changing cells to the correct range of cells you colored. C. Set the constraints to the following rules for each type of car (bottom of p. 167). NOTE: You will have 9 constraints if you combine the changing cells "Cell reference" and the Max Production Capacity "Constraint" in a range, such as these: B3:B7 and E12:E16. This is recommended to be efficient and key fewer constraints. i. You cannot produce more than the maximum production capacity (see NOTE above) ii. You cannot produce less than the minimum noted on p. 167 iii. Only whole vehicles can be produced (use the range again) iv. The combined Fleet MPG must meet the federal minimum of 45 mpg v. The Gross Margin Percentage must be at least 30% d. Use the GRG Nonlinear solving method e. Click Options and make sure your options are at these settings Options ? X All Methods| GRG Nonlinear | Evolutionary | Constraint Precision: 0.000001 Use Automatic Scaling Show Iteration Results Solving with Integer Constraints Ignore Integer Constraints Integer Optimality (%): 1 Solving Limits Max Time (Seconds): Iterations:B38 X V fx =B36-B37 A B C D E F G H K L M THE AUTO MAKER PRODUCT MIX PROBLEM Solver Parameters Production Number Number of Trucks 15 Fill Legend: Set Objective: $B$38 Number of SUVs 15 Changing Cells Number of Sedans 15 Optimization Cells To: . Max Min O Value Of: 0 Number of Compacts 15 Number of Electrics 15 By Changing Variable Cells: 8 9 10 Constants Subject to the Constraints: Vehicle Type Average Selling Prices: Average Cost of Manufacture: Average MPG: Max Production Capacity: $30,000 28 30,000 Add Trucks $60,000 13 SUVS $55,000 $28,000 33 90,000 14 Sedans $40,000 $33,000 40 50,000 Change 15 Compacts $30,000 $27,000 55 20,000 16 Electrics $35,000 $37,000 100 10,000 Delete 17 18 Reset All 19 Calculations 20 Revenue: 21 Trucks 900,000 Load/Save 22 SUVS 825,000 23 Sedans 600,000 Make Unconstrained Variables Non-Negative 24 Compacts 450,000 25 Electrics 525,000 Select a Solving Method: GRG Nonlinear Options Cost of Manufacture: Trucks 450,000 Solving Method SUVS 420,000 1 00 Sedans 495,000 Select the GRG Nonlinear engine for Solver Problems that are smooth 30 Compacts 405,000 nonlinear. Select the LP Simplex engine for linear Solver Problems, and select the Evolutionary engine for Solver problems that are non- 31 Electrics 555,000 smooth. 32 Total number of autos mac 75 Fleet MPG 4.41 34 35 Income Statement Close Solve 36 Total Revenue un 3,300,000 37 Total Cost of Manufacture $ 2,325,000 38 Gross Margin 975,000 39 10 Gross Margin Percentage 29.55% 41Step by Step Solution
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