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1/31: LP Applications

1/31: LP Applications. From last time: Using MS Excel to solve LPs Telemarketers Marketing: Media Selection Review Sensitivity Analysis in MS Excel Production: Make-or-Buy Production Planning Group Exercise? Homework. Using MS Excel for LP: Group Exercise.

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1/31: LP Applications

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  1. 1/31: LP Applications • From last time: Using MS Excel to solve LPs • Telemarketers • Marketing: • Media Selection • Review Sensitivity Analysis in MS Excel • Production: • Make-or-Buy • Production Planning • Group Exercise? • Homework

  2. Using MS Excel for LP: Group Exercise • A telemarketing company needs to contact 150 wives, 120 husbands, 100 single males, and 110 single females. A day call costs $2.00, and an evening call costs $5.00. No more than half the calls can be made at night. See the table for percentage of answers. No more than half the calls can be made at night. Minimize the cost.

  3. Marketing: Media Selection • A advertising firm has chosen to divide their new ad campaign across 5 media outlets this month. Maximize their “quality exposure units” with a $30,000 budget. Other constraints: min. 10 TV commercials, min. 50,000 potential customers must be reached, and max. $18,000 spent on TV. See solution

  4. Production: Make-or-Buy Decision • A company makes two types of calculators, A & B. Each type has 3 parts: a base, electronics, and a faceplate. The same base is used for the 2 models. The company can make or purchase all the parts. They need 3000 Type A & 2000 Type B. Manufacturing cap.: 200 hrs. reg. time, 50 hrs. OT at an extra $9.00/hr. Minimize their cost. See solution

  5. Production: Production Scheduling • James Beerd makes cheesecakes & Black Forest cakes. Each day, he can bake 65 cakes. It costs $0.50 to hold a cheesecake and $0.40 to hold a Black Forest cake in inventory for a day. Minimize the cost of meeting the next 3 days’ demand. See solution

  6. Group Exercise • Schwing Co. produces two types of bicycles: the Wing and the Sail. Maximize the profit based on the following information using MS Excel.

  7. Using MS Excel for LP: Homework from last time • Ch. 3 #25, 26, 27 (not b&c), 34Along with working up an Excel Solver answer to the problems, answer all questions in the problems – type them on the spreadsheets, or add a worksheet to answer each problem’s questions. • Turn in printouts of solved spreadsheets, formulas, and answers, and email the Excel files by BEGINNING OF CLASS Thursday, February 7

  8. Using MS Excel for LP: Homework from this time • Ch. 4 #1, 14, 17, 21Along with working up an Excel Solver answer to the problems, answer all questions in the problems – type them on the spreadsheets, or add a worksheet to answer each problem’s questions. • Turn in printouts of solved spreadsheets, formulas, and answers, and email the Excel files by BEGINNING OF CLASS Thursday, February 7

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