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Optimization Essay Examples

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Girl Power

Sensitivity analysis helps to test the sensitivity of the optimum solution with respect to changes of the coefficients in the objective function, coefficients in the constraints inequalities, or the constant terms in the constraints. For Example in the case study discussed: The actual selling prices (or market values) of the two products may vary from…

BDM midterm

Ralph Edmund loves steak and potatoes. Therefore, he has decided to go on a steady diet of only these two foods for all his meals. Ralph realizes that this is not the healthiest diet, so he wants to make sure that he eats the right quantities of the two foods to satisfy some key nutritional…

Merton Truck

Keeping 3000$ and 5000$ as unit contributions respectively for Model 101 and Model 102 trucks, formulate the Merton’s product mix decision problem using LP. Present the LP problem in the standard form including all the details and units. Using solver, find the optimal product mix of these two trucks? What is the optimum total contribution…

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Quain Lawn and Garden, Inc. Case Analysis

After a false retirement Bill and Jeanne Quain realized their destined action in the plant and shrub business. The need for a high-quality commercial fertilizer prompted the innovation of a blended fertilizer called “Quain-Grow”. Working with chemists at Rutgers University, a mixture was constructed from four compounds, C-30, C-92, D-21 and E-11. Specifications (i.e constraints)…

Recommending a Low-Cost Customer Service

Executive Summary Acme De Mexico’s Manager has requested assistance in developing a minimum cost daily assignment schedule for the customer service employees in their newly built store. Specifically, he wants to know the minimum total cost per day, which is the decision variable. He also wants to know the exact amount of part time and…

Operation Research

INTRODUCTION & HISTORY OF OPERATIONAL RESEARCH Operational research came into existence in 1885 when Frederick W. Taylor emphasised the application of scientific analysis to methods of production. The name (OR) probably came from a programme under taken by Great Britain during world war2, “research in military operations”. After the success of OR in military operations,…

Variable Cost and Following Table

EM 505 – Decision Models, Fall 2012 Homework 3 – December 10-11, 2012 1. The diagram below depicts a system of aqueducts that originate at three rivers (nodes R1, R2 and R3) and terminate at a major city (node T) where the other nodes are junction points in the system. Using units of thousands of…

Optimization of portfolio risk

This paper is a critique one the article entitled “Post-Modern Portfolio Theory” by Swisher and Kasten (2005). The framework for this critique is to determine whether there ground to agree or disagree on the claims of the authors as against the evidence they presented. Swisher and Kasten asserted about the unreliability of Modern portfolio theory…

Capacity Planning Model

Abstract: Capacity planning decisions affect a significant portion of future revenue. In equipment intensive industries, these decisions usually need to be made in the presence of both highly volatile demand and long capacity installation lead times. For a multiple product case, we present a continuous-time capacity planning model that addresses problems of realistic size and…

The Simplex Solution Method

The simplex method is a general mathematical solution technique for solving linear programming problems. In the simplex method, the model is put into the form of a table, and then a number of mathematical steps are performed on the table. These mathematical steps in effect replicate the process in graphical analysis of moving from one…

Linear Programming Model Assignment Questions

The homework problems for Module 4 are: 2-24, 34, 36, 38 (you only have to do part A for these problems. You do not have to do the part B graphical solutions) and 3-10, 12 (parts B and C for Problem 12), 28, 30. Please use Excel solver function. I posted an annotated solution to…

Mean-Variance Optimization “Stimulation Approach”

To use of the balance of payments as a barometer of the forces of demand for and supply of foreign exchange in the market, it is necessary to isolate those entries which respond to relative economic conditions from those transactions which are made solely to fill the gap between the initial supply of and demand…

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