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Using Excel Solver for Linear Optimization Problems

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## Using Excel Solver for Linear Optimization Problems

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**Using Excel Solver for Linear Optimization Problems**Wendy Pitchko Irene Meglis Shawn Lemko**What is Solver?**• Solver is an Add-In for Microsoft Excel which can solve optimization problems, including multiple constraint problems. • You can maximize, minimize, or set a target value to achieve.**Installing Solver for Use**• On Excel Menu, choose • Tools • Add-Ins...**Installing Solver for Use**• On Excel Menu, choose • Tools • Add-Ins... • Put a Check in the Box Next to ‘Solver Add-in’**Using Solver**• On Excel Menu, choose • Tools • Solver • This brings up the Solver Parameters box which will be discussed next.**Recall the Cargo Problem from the last homework**assignment… Our task is to maximize the profit for a shipping company using a combination of cargo weights without violating the given constraints Revenue is $250 per ton of cargo shipped Limit of 50,000 ft3 space and 100 tons Three types of Cargos with different densities, maximum available amounts Refresher: Setting up a Linear Problem On Paper**Setting Up the Problem in Excel**• The Objective Function**Setting Up the Problem in Excel**• The Objective Function • The Decision Variables (optimal values will be calculated by Solver)**Setting Up the Problem in Excel**• The Objective Function • The Decision Variables • The Constraints • Relationships**Setting Up the Problem in Excel**• The Objective Function • The Decision Variables • The Constraints • Relationships • Values**The End**• Thanks for your attention…