Consider one of the managerial decisions you mentioned for your dream company Describe the problem in words (objective, parameters, constraints, etc.) b) Define the decision variables. c) Formulate the problem as a linear programming (LP) model. d) Use Excel Solver to solve the associated LP model and find the optimal solution. Ask Excel to generate the Answer report…

Consider one of the managerial decisions you mentioned for your dream company in
Assignment 1. You can also consider a new managerial decision for your dream
company.
a) Describe the problem in words (objective, parameters, constraints, etc.)
b) Define the decision variables.
c) Formulate the problem as a linear programming (LP) model.
d) Use Excel Solver to solve the associated LP model and find the optimal solution.
Ask Excel to generate the Answer report.
e) Interpret the result. For example, what are the optimal values of decision
variables? Which resources are totally consumed (binding constraints)?
f) Do sensitivity analysis on one of the right-hand sides and one of the objective
function coefficients.

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