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EXCEL SOLVER TUTORIAL

 EXCEL SOLVER TUTORIAL Article

п»їEXCEL SOLVER TUTORIAL

A large number of firms face the problem of how to greatest use multiple scarce assets. Linear encoding is designed to give you an idea about14964 the product mixture that boosts profits in the short run when ever multiple limitations exist. Although linear coding can be resolved as a mathematical problem applying pencil and paper, it is much more efficient to use Stand out Solver. The important thing to applying Excel Solver is to be sure that you have patterned the problem appropriately and then viewed the results appropriately. In this problem we will practice the use of Solver.

In this case in point suppose that you manufacture regular and high grade golf carts. The value, variable costs and production times happen to be as follows:

Regular

Premium

REVENUE PRICE

$ 8, 1000

money 10, 500

CHANGING COST

a few, 600

6, five-hundred

CONTRIBUTION MARGIN

dollar 2, 400

dollar 3, five-hundred

Assemblage hours

20

50

Check and Test

5. 0

installment payments on your 5

Your company currently has 15, 000 hours available for assemblage and 1, 200 hours for inspection and testing. There is also a limit to how many high quality golf buggies that can be sold (150 max). Given this information if you want to optimize profits what mix of frequent and high grade golf carts should you develop?

SOLUTION:

1 . Input these data in an Exceed Spreadsheet (including constraints). Add cells for total several hours used (these should be formulas). Add two additional lines for amount and total contribution perimeter by item and overall. Keep in mind that the entire contribution margin cells should be input as formulas. Also, it is a good idea to write out your linear programming version (as shown below) to aid guide you as you may set up Solver, but it is usually not necessary pertaining to the program to work.

Your excel schedule should appear to be this:

2 . Under the " Data” case in Excel open solver

You should get a box that looks like this

3. Enter all of the data from the...

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