Your instructor will assign a linear programming project for this assignment according to the
following specifications.
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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.
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Writeup.
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.
Excel.
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.
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