Linear Programming (LP) Optimization with Excel Solver

#excel #solver #linearprogramming
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Please watch: "Linear Programming Optimization Transportation Problem Excel Solver"

A tablet computer manufacturer offers two models of its product, the Tablet Pro and the Tablet Mini. The Tablet Pro requires 1 chipset, 15 electronic components and 6 hours of labor and returns a profit of $182. The Tablet Mini requires 1 chipset, 9hours of labor and 10 electronic components and returns a profit of $139. Monthly resources are limited to 1,000 chipsets, 7,000 labor hours and 14,000 electronic components. The tablet manufacturer is interested in maximizing monthly profit. What product mix achieves maximal profit?

Overview of formulating linear programming models and using Solver to find an optimal solution. Includes discussion of sensitivity reports and important terminology.

Demonstration of classic two product profit maximization formulation.

Spreadsheet used in the video can be downloaded from:

[goonhead]

Man thank you I wish I could give you my money instead of my professors. I’ll repay you one day

[sevenstudiosphotography]

It baffles me that Matt made this problem so easy to understand. Why can’t my Professor break it down like this? Thanks Matt!

[CT-mcsy]

Thank you!!! So much better than my prof at explaining, especially since you use much clearer terms.

[jimparsons]

Interesting. ... going to school in the early 70s, we did all of this by hand... with the use of a slide rule to estimate the answer and then draw a couple of graphs by hand to zero in on the better answer. Them were the days!! Enjoyed the clip.

[melo]

Extremely good video. I was pulling my hair in class because my teacher was confusing everyone. Thank you!

[CamilleEssick]

I think I watched about 5 videos before I found one that has the best example on what to do. Thanks!!! Short and Simple!!

[spaces]

Matt, thank you for taking the time to produce this video. It has helped me a lot.

[nirtheart]

Edit: I found it! I had to go to Data/Solver and then go through the set-up there and the "Limits Report" showed up! Thank you so much for the video again!

Thank you for the insightful video! Only thing I was unable to do on my own when following your video was to find the "Limits Report" which didn't show up anywhere in my Excel document. I'm using the newest versions of things, so it probably is just somewhere I don't know where to look for it

[portaltaker]

Saved me for my Quantitative Analytics module! My lecturer explained this so badly, thank you!

[rozthepuffer]

My professor literally gave us a link to this video instead of just teaching it himself, I wish I can just take back the money I gave to my professor and give it to you instead. Have my like and sub cuz idk how else to repay u back

[williamhylen]

You are a god among men. This is the best explanation of this I have heard. Thank you.

[kushikachhabra]

Great video. My professor took 2 hours to teach this method and i did not understand a thing. whereas you made me understand it in 10 mins. :)

[zizo]

I don’t understand why professors make so difficult huhhh thanksss a lot man❤

[stephenip]

Back in the days, we used simplex method, and I wrote C program to solve the opimization... now there is an excel solver.... People have forgotten the importance of solving problems on their own.

[ravneethanda]

Thank you so much. I was struggling to solve LP with excel solver and your video helped me a lot.

[meatbeater]

You saved my ass. I have an assignment on this and I had no idea before I watched this video.

[RandlemanProductions]

Thank you so much!!!! I had so much trouble with understanding this and you explained it perfectly. I now understand this. THANK YOU!!!

[ASB-cfke]

easy way to learn, good work to the developers of the video

[AbdoulayeDiallo-xuhx]

Wow man, you are a LEGEND; the way you explain.... just wow. I wish I could trade you with my professor.

[nomnom]

thanks, gonna use this to find probable missing amounts