Applications of optimization: determining product mix, manufacturing, routing and logistics, financial planning. Charact of optimiz pr: decisions, constraints, objectives. LP problem? aqua/hydro: pumps1/1, labor9/6,tubing 12/16, unit profit 350/300. Existing: 200 pumps, 1566 labor, 2880 tub. – constraints=feasible region, best point=optimal sol, Graphical: Level Curves(objective function approach)/corner point appr.(extrm pt. enumeration-bounded only)SOLVE: 1. Plot boundary line of constr 2.identify the feas reg 3. Find opt. sol: a)plot level curves, b)enum. Extrm pts. SPECIAL CONDITIONS IN LP: alternate opt sol, redundant constraints, unbounded sol, infeasblty. MAX: 350X1+300X2 – PROFIT EQUATION, 1X1+1X2<200 PUMPS EQ,9X1+6X2<1566 LABOR CONSTR EQ, 12X1+16X2<2880TUBIN EQ, X1,X2>0NONNEG. Solver/excel: target cell=objective fction, chang cells= dec variables, constrnt cells=L HS formulas on the constrnts. COMMUNICATION-spreadsheet’s primary business purpose is communicating information to Managers.RELIABILTY-output a spreadsheet generates should be correct and consistntAUDITABILITY-can be retraceble MODIFIABILITY:easy to change or enhance to meet dynamic reqmts. MAKE VS BUY DECISION: order of $750k: # ordered M1/M2/M3 3000/2000/9000, Hrs of wiring per unit: 2/1.5/3, Hrs of harn/unit: 1/2/1, cost to make: 50/83/130, $to buy: 61/97/143.avail: 10,000hrs of wir, 5,000hrs of harn. DEC VARIABLS: M1, M2,M3,B1,B2,B3 (MMAKE, BBUY) OBJECTIVE FUNCTION: MIN COST : MIN:50M1+83M2+130M3+61B1+97B2+145B3. CONSTRNTS:DEMAND: M1+B1=3000,M2+B2=2000,M3+B3=900, RESOURCES CONSTRTS: 2M1+1.5M2+3M3<10,000, 1M1+2.0M2+1M3<5,000, NONEG: M1,M2,M3,B1,B2,B3>0. TRANSPORTATION PR: source: S, dest: D. S1/2/3: supply 275/400/300k,D 4/5/6 Capacity: 200/600/225K. decision variables: S1-D1/2/3=21/50/40MILES, S2-D1/2/3=35/30/22, S3-D1/2/3=55/20/25MILES. Ob. Fctn: Min the total no of bushel-miles: MIN: 21X14+50X15+40X16+35X24+30X25+22X26+55X34+20X35+25X36. Constrts: capacity constr:...