nonlinear optimization 2
The purpose of this assignment is to introduce how to find solutions to business problems using nonlinear optimization techniques.
Using specified data files, chapter example files, and templates from the “Topic 7 Student Data, Template, and Example Files” topic material, complete Chapter 14, Problems 69, 70 (ignore the SolverTable portion), 72 (ignore the SolverTable portion), and 94. Use Microsoft Excel’s Solver Add-In to complete these problems. For Problems 70, 72, and 94, run the Solver’s Answer and Sensitivity Reports. Interpret and summarize the key results.
To receive full credit on the assignment, complete the following.
- Ensure that all Solver settings are defined through the use of the Solver dialog box.
- Ensure that Excel files include the associated cell functions and/or formulas if functions and/or formulas are used.
- Include a written response to all narrative questions presented in the problem by placing it in the associated Excel file.
- Include Answer and Sensitivity Reports interpretation and summary of key results.
- Place each problem in its own Excel file. Ensure that your first and last name are in your Excel file names.
APA style is not required, but solid academic writing is expected.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. QUESTION 1- Can linear and nonlinear optimization problems use the same approach to find a solution? For example, if the GRG algorithm is used to solve a nonlinear optimization problem, will it work to solve a linear optimization problem? Discuss whether or not the GRG algorithm will always find a corner point similar to the feasible-region approach. QUESTION 2- Nonlinear optimization problems can have multiple solutions, and a solution can be local or global. Can there be multiple local solutions? Explain your answer. Can there be multiple global solutions? Explain our answer.
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