Locus RAGS
LINEAR PROGRAMMING ASSIGNMENT HELP BUSINESS 275, SPRING 2015 LINEAR PROGRAMMING ASSIGNMENT HELP Objectives: (1) To develop linear programming modeling skills (2) To be able to solve linear programming problems using the Solver add-in to Excel; (3) To practice and develop report writing skills, creative thinking, and a team approach to problem solving. Four Questions: Problem 1: 50 marks [35 marks for the mathematical formulation, 6 marks for Excel files, 9 marks for the report (you should consider all the scenarios described in the last paragraph of the question) Problem 2 : 50 marks [20 marks for the mathematical formulation, 6 marks for excel, 24 marks for the answers to questions a to h] Problem 3: 50 marks [29 marks for formulation, 6 marks for Excel Report, 15 marks for report which should contain the solution and other aspects of the problem as well] Problem 4: 100 marks [60 marks for the mathematical formulation, 20 marks for the Excel files, 20 marks for the report(solution should be described and some what-if analysis should be done in the report)] Administrative Notes This assignment is to be completed by three 3 person groups. The only exception is if the class is not divisible by three. In that case there can be two groups of 2 or one group of 2. Two submissions:
Submission 1(in the dropbox outside SBE2201): Submit your work in word-processed report format, double-spaced using the cover page which is posted online. Binding is not necessary stapling is adequate. Colour is optional. Double-sided printing is fine. Submission 2(in the electronic dropbox on MyLS): Submit 4 excel files – one for each question into the appropriately titled electronic dropbox. Your excel file should have the last names of all your group members and the questions number. The report format should be as follows for each problem: Part 1: State all the assumptions you have made, define the decision variables and their units, type out the mathematical linear programming problem (includes objective function and all constraints). An excel print out of your formulation is not enough. Part 2: For each problem, you should have a report, which, must be convincing to a general manager (so provide your reasoning in non-technical language). Part 3: Include any computer output as an Appendix to each question.. The computer printout per se does not constitute the report. Due in marked boxes outside SBE2201, by 2:00 p.m. on July 23rd 2015 Problem 1 A problem frequently encountered by managers of banks, mutual funds, investment services, and insurance companies is the selection of specific investments from among a wide variety of alternatives. The manager’s overall objective is usually to maximize expected return on investment, given a set of legal, policy, or risk restraints. For example, a provincial credit union invests in short-term trade credits, corporate bonds, gold stocks, and construction loans. To encourage a diversified portfolio, the board of directors has placed limits on the amount that can be committed to any one type of investment. The credit union has $6 million available for immediate investment and wishes to do three things: (1) to maximize the interest earned on the investments made over the next six months, (2) The credit Union’s financial advisor’s would like the Credit Union to invest at least 90% in corporate bonds, gold stocks and construction loans and (3) satisfy the diversification requirements as set by the board of directors. The specifics of the investment possibilities are as follows: Table 1. Investment
Interest Earned (%)
Trade credit Corporate bonds Gold stocks Construction loans
7.5 10.5 19.7 13.8
Maximum investment ($ millions) 1.0 2.5 1.5 1.8
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