Linear Programming Project
Linear Programming ProjectOverviewFor this assignment, your instructor will assign a linear programming project based on the following specifications:It will be a problem with at least three constraints and at least two decision variables.The problem will be bounded and feasible. It will also have a single optimum solution (in other words, it wont have alternate optimal solutions).The problem will also include a component that involves sensitivity analysis and the use of the shadow price.InstructionsYou will be turning in two deliverables, a short writeup of the project, and the spreadsheet showing your work.WriteupYour 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 or two succinct paragraphs.After the introductory paragraph, write out the LP 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.SpreadsheetPlease set up your problem in QM for Windows or 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.This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.The specific course learning outcome associated with this assignment is:Determine an approach to a problem that uses a linear programming model.Assignment 1. Linear Programming Case StudyFrom your real-world of your business* formulate a linear programming project for this assignment according to the following specifications.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 wont 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.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.Clickhereto view the grading rubric for this assignment.*if a real-world business study is not possible, you may work with a fictional one you make up just make the story real-world based.By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.
