Description
GUIDELINES for COURSE PROJECT:
1) Read the Course Project situation and requirements carefully. Make sure you have understood the materials where the Course Project is based (for this, refer Course Project requirements and Course Outline to see what course materials are to be used in solving the Course Project requirements).
2) Use the provided template (SOL_TEMPLETE for Course Project 1 file) for preparing the solutions for your Course Project. Each question MUST be solved into the predesigned section for it (for example, question a of the project must be solved in section for question a designed for this question (top section of the template)). If this template is not used for solving the Course Project, a zero will be placed as the evaluation for the Course Project automatically.
3) Students can type the solutions in the Template and then post the file in CMS ( a Word file) or can print the Template, fill in the solutions in handwriting (must be comparable to Time New Roman, size 14), scan the file and post the scanned file in CMS.
4) The only acceptable file formats are: WORD or SCANNED file. Any other format will not be accepted and a mark of ZERO will be assigned to the corresponding assignment.
5) When finish place your name and student number in the file name for identification.
6) Attach also the Excel file for SOLVER solutions as guided in b8) requirement.
7) Post the solution and Excel files before the Due Date and Due Time.
8) Refer to Course Project Marking Key to see the evaluation components for the Project. Marks of the assignment questions are posted at the end of the project.
THE PROJECT: The following business situation is given:
Study the above business problem and perform the solutions of the following requirements. Make sure you follow the guidelines associated with the course project. The marking rubric is at the end of the project.
PROJECT REQUIRERMENTS AND COMPONENTS OF EVALUATION:
a) Argue whether LP modeling is a suitable method to solve this situation (problem). Bring arguments to support your answer.
b) Whatever is your response to question a), perform the LP solution for the problem by performing each one of the following steps:
b1) ID (state) the variables of the problem and what state they represent
b2) ID the Objective Function and the problem objective
b3) ID the constraints of the problem (state the equations and inequations)
b4) Solve the LP problem graphically: use Level Lines Method
b5) ID the feasible region (what are the constraints that limit its borders) and show a picture of it
b6) ID the Binding and Unbinding constrains
b7) Solve the LP algebraically: use ALL Corners Method
b8) Solve the LP using SOLVER
a) Attach the Excel file with SOLVER solution in it
b) In the Excel file ID:
• Changing cells
• Target cell
• Constrain equations with SUMPRODUCT functions
• SUMPRODUCT Objective Function
• The solution of the problem
• SOLVER Sensitivity Report
c) Prepare and perform sensitivity analysis for the optimal solution you found:
c1) ID the Binding and Unbinding constraint coefficients and state what do they represent
c2) Identify the effect on the solution of:
• Changes only on values of objective function coefficients
• Changes only on values of constraints right-hand side coefficients
c3) Is there any indication of the presence of any alternative optimal solution? Support your answer
based on the information that comes from Adjustable Cell section of the Sensitive Report of
your LP solution
d) Perform Sensitive Simultaneous Changes Analysis for the solution that you found on LP for the following situation:
d1) time available for electronics becomes 260 hours and time available for assembly line becomes 120 hours
d2) each Walkman yields a profit of $ 5.60 and each Watch-TV yields a profit of $6.00.
HINT: Use the 100% rule
COURSE PROJECT MARKING KEY: 80 marks for 40%
Question
Component Mark
Sample Solution
