mat 540 3236057 2.
This is the assignment instructions:
Assignment 1. Linear Programming Case Study
Your instructor will assign a linear programming project for this assignment according to the following specifications.
It will be a problem with at least three (3) constraints and at least two (2) decision variables. The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it won’t have alternate optimal solutions). The problem will also include a component that involves sensitivity analysis and the use of the shadow price.
You will be turning in two (2) deliverables, a short writeup of the project and the spreadsheet showing your work.
Your writeup should introduce your solution to the project by describing the problem. Correctly identify what type of problem this is. For example, you should note if the problem is a maximization or minimization problem, as well as identify the resources that constrain the solution. Identify each variable and explain the criteria involved in setting up the model. This should be encapsulated in one (1) or two (2) succinct paragraphs.
After the introductory paragraph, write out the L.P. model for the problem. Include the objective function and all constraints, including any non-negativity constraints. Then, you should present the optimal solution, based on your work in Excel. Explain what the results mean.
Finally, write a paragraph addressing the part of the problem pertaining to sensitivity analysis and shadow price.
As previously noted, please set up your problem in Excel and find the solution using Solver. Clearly label the cells in your spreadsheet. You will turn in the entire spreadsheet, showing the setup of the model, and the results.
This is the work that the instruction assigned
The final assignment for MAT 540 requires solving and analyzing problems 28, 29, and 30 in Chapter 3. Please answer the questions asked in detail including
(1) Formulation of the problem,
(2) Excel’s LP solution
· What is the optimal solution?
· Which constraints and biding? Why?
· Which constraints and not biding? Why?
(4) Sensitivity analysis:
· Describe and analysis LP’s sensitivity analysis.
· Describe the “Range of Optimality”; and the analysis of the “Range of Optimality” as it related to this problem.
· Describe the “Range of Feasibility”; and the analysis of the “Range of Feasibility” as it related to this problem.
· Explain LP’s “shadow price”; and provide analysis of the shadow prices as it related to this problem.
I just need the write up section complete. The completed assignemt is attached.