![]() ![]() This initial analysis assumes there are no constraints. ![]() the number of boxers produced, and the number of briefs produced). ![]() 10 5Ħ Excel Tools for Sensitivity Analysis One-way Data Table, Two-Way Table, Scenario Manager Solver Answer Report Slack Pertains to changing RHS of a constraint Solver Sensitivity Report Shadow Price, Allowable Increase / Decrease Reduced Cost, Allowable Increase / Decrease SolverTable Pertains to changing Objective Function Coefficients 11 Changing the Value of Decision Variables With Two- Way Data Tables The two-way data table below shows the effect, on profit, of changing the two decision variables (i.e. Objective function: Objective Function Coefficients maximize ( $3.00 x Boxers ) + ( $4.50 x Briefs ) Constraint Coefficients Constraints: Material: (.4 x Boxers ) + (.5 x Briefs ) = 0 Briefs >= 0 Constraints Right Hand Sides (RHS) 6 3Ĥ Graphical Formulation 7 The Graphical LP Formulation - Revisited Optimal Solution Boxers F Hours E D A C Logos Demand Optimum Material B Briefs $3.00 $4.50 Total Boxers Briefs Profit A $1, B $1, C $2, D $2, E $2, F $1,ĥ Excel Formulation 9 Excel Formulation - Revisited Boxers and Briefs Example: Profit Maximization See boxers_and_briefs_example.xls in the downloads for today s class. 4 2ģ Algebraic Formulation 5 The Algebraic LP Formulation Revisited Variables: number of Boxers, number of Briefs. Each boxer uses 1 insignia logo and 600 insignia logos are in stock. There is unlimited demand for boxers but total demand for briefs is 375 units per week. ![]() It requires 1 hour to manufacture one pair of boxers and 2 hours for one pair of briefs. Briefs use 0.5 yards of material boxers use 0.4 yards. How many boxers and how many briefs should be produced per week, to maximize profits, given the following constraints The (profit) contribution per boxer is $3.00, compared to $4.50 per brief. 1 Sensitivity Analysis with Excel 1 Lecture Outline Sensitivity Analysis Effects on the Objective Function Value (OFV): Changing the Values of Decision Variables Looking at the Variation in OFV: Excel One- and Two-Way Data Tables, and Scenario Manager Finding the Optimum OFV: Excel Solver Effects on the Optimum: Making One Change to the Model Parameters: Changing a Decision Variable Coefficient in a Constraint (Graphical intuitions) Changing the Right Hand Side (RHS) of a Constraint: Slack & Shadow Price Changing a Decision Variable Coefficient in the Objective Function: Reduced Cost Making Multiple Changes to the Model Parameters The 100% Rule SolverTable 2 1Ģ Steps in Modeling STEP 1: Formulate STEP 2: Solve (Find the Optimum) STEP 3: Do a Sensitivity Analysis 3 Problem Statement Boxers and Briefs Example - Revisited Champion Sports manufactures two types of custom men's underwear: boxers and briefs. ![]()
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