Question

Can anyone help me start this question?
http://prntscr.com/3bq94u

Answer 1

@ParthKohli

Answer 2

@ganeshie8 Can you help? I just need help getting the constraints... I should be able to do the rest

Answer 3

If it helps, this is what I came up with
http://prntscr.com/3bqaoh

Answer 4

I think we should use linear programming here

Answer 5

Graph the equations

Answer 6

Yes but I have only done simple questions, this seems harder compared to stuff I've done

I don't know what constraints to work with, as in, would I graph all of them, or would I graph them for specific cases (costs, time)
it is supposed to be done via excel which is why I only need help getting constraints lol

Answer 7

your constraints are looking good... but idk how to optimize in more than 2 variables :(

Answer 8

Me neither! but I am supposed to use solver in Excel not sure how though

Answer 9

u have 4 variables, how wud u graph them ?

Answer 10

oh excel

Answer 11

@UnkleRhaukus

Answer 12

in excel it should be easy

Answer 13

just sweep each variable(W,X,Y,Z) from 0->1000 and find out where the maximum value for Profit occurs..

Answer 14

I have little experience in Excel but I am attempting atm, will post what I get done and hopefully if you aren't too busy and don't mind could check it/correct it?

Answer 15

sure :)

Answer 16

just check ur profit function once..

Answer 17

Profit should be :

\(\large P = 2.1W+3.5X+2.5Y+2.5Z\)

right ?

Answer 18

Yes that is right

Answer 19

I messed up on excel not sure where...

Answer 20

Probably went wrong everywhere lol Excel is really new to me

Answer 21

I only see the question... I dont see any work in xlsx ?

Answer 22

sheet 2

Answer 23

idk how to interpret sheet2... it looks in xls also its going to be tough to compute :/

Answer 24

if u sweep each variable 1000 times, u wud get :

1000x1000x1000x1000 = 10^12 rows of data :S

Answer 25

im not sure sorry... @UnkleRhaukus please help if u have time....

Answer 26

One of the constraints is that A + B must be 550 or more. C + D must equal 100. And, finally, B+D must equal 400.

Answer 27

I thought it would be greater than or equal since it said atleast?
I have the constraints it is using excel to solve it i have a problem with

Answer 28

I owe it to you and to myself to learn how to use Excel's "Solver" for this type of problem, but at present I don't know that part. Nevertheless, you could come up with the equation for the profit (ganeshie8 has proposed P = 2.1W+3.5X+2.5Y+2.5Z ) and then, paying careful attention to the constraints, choose various values of the four variables until you seem to have a combination that gives you the greatest Profit, P. In your shoes I would solve this problem without Excel first, and then, knowing the answers, experiment with Excel to get the same or a similar result.

Answer 29

Why is cell-E5 on sheet 2 2.1 and not 4.0

Answer 30

Because the profit function is difference between buying and selling so I subtracted the buying costs from selling prices to get the profit

Answer 31

But isn't Profit defined as REVENUE - COSTS?

Answer 32

Why didn't you do that for B,C,D as well

Answer 33

I did

Answer 34

http://prntscr.com/3bqqju

Answer 35

To use Goal Seek in excel,
select the final profit cell
click tools in the toolbar, and go down to goal seek...
then choose the parameter you are solving for

Answer 36

i did something seriously wrong just not sure what

Answer 37

Okay in goal seek I am not sure what to put in the things it asks me for

Answer 38

Set cell : is for the cell you know the value for

To value: is for that value


By changing cell: is for the parameter you dont know

Answer 39

I don't get it lol thank you for taking time to help me though, I'll just leave it and ask my lecturer when easter break finishes