Question
You would like to minimize your cost of food intake during a given day. The table in Excel for this question shows the food items
You would like to minimize your cost of food intake during a given day. The table in Excel for this question shows the food items you may want to consume, their prices as well as their nutrition values that you should take each day. You also would like to consume at most 4 cups of broccoli soup, 3 bagels, 1 cup of 3% milk and 3 cups of orange juice. You are asked to determine the optimal food item mix that minimizes the total cost of your daily food consumption. You will formulate a linear programming model to determine the optimal solution using Excel Solver.
(3 points) What are the decision variables? How many decision variables are there? Clearly explain the decision variables in English and provide the mathematical notation used in the algebraic formulation of the decision problem.
(2 points) What is the objective function? Clearly explain the objective function in English and provide the mathematical formulation.
(6 points) What are the constraints of the problem? Clearly explain each constraint in English and provide the mathematical formulation.
(1 points) Are there any sign or type restrictions in your formulation? Why or why not? Clearly explain the sign and type restrictions (if any).
Prepare a spreadsheet to determine the optimal production mix of using Excel Solver.
(2 points) Provide a screenshot of your spreadsheet model. The screenshot should show all the cells involved in formulating the optimization problem. NOTE: Do not copy and paste your spreadsheet to your answer report as an Excel object. Instead, capture a screenshot in Excel and paste this as an image.
(2 points) Provide a screenshot of your spreadsheet with the formula view. You can switch from normal view to formula view in Excel by clicking the CTRL and ~ keys on your keyboard simultaneously.
(2 points) Prepare the Solver model by logging all the information to the Solver Parameters window in Excel. Provide a screenshot of the Solver Parameters window.
(2 points) Solve the optimization problem using Excel Solver. What is the optimal solution, i.e., the optimal values of the objective function and the decision variables?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started