- #Excel analytic solver platform optimal solution how to#
- #Excel analytic solver platform optimal solution code#
- #Excel analytic solver platform optimal solution mac#
- #Excel analytic solver platform optimal solution windows#
Although she lilkes her job, she is also looking forward to retiring one day.
Lynn Price recently completed her MBA and accepted a job with an electronics manufacturing company. Answer all questions and discuss in case you find differences to your solution in part a). Instead, build a model and vary the order quantity in between 50, 60, 70, 80, 90, 100, 110 using the PsiSimParam function as discussed in section 12.14.2. The following functions will help with this problem (you may need others also which you have used before): PsiPoisson (see page 577) Psimin and Psimax (see pages 602-603) Psitarget (see page 596). Solve as a combination of simulation/optimization. How likely is it that the store owner will make between $6,000 and $7,000 if she implements your suggestion?Ī. How likely is it that the store owner will make at least $7,000 if she implements your suggestion?ĭ. What are the best-case and worst-case outcomes the owner may face on this product if she implements your suggestion?Ĭ. How many jackets should the store owner order if she wants to maximize her expected profit?ī. The store owner can order jackets in lot sizes of 10 units.Ī. The demand for jackets is expected to follow a Poisson distribution with an average rate of 80. Any unsold jacket at the end of the season are sold for $45.
Each ski jacket costs $54 each and can be sold during the ski season for $145. The owner of a ski apparel store in Winter Park, Colorado must make a decision in July regarding the number of ski jackets to order for the following ski season. Solve the following problems in Excel using Excel add-in- analytical solver platform (due Thursday, oct 29th)
#Excel analytic solver platform optimal solution windows#
On my Windows Desktop, this is how I set things up in Solver.Assignments: It is strongly recommended that you create a separate file for each of these problems in order to avoid that the simulation runs interfere with each other. Marginal Risk Contribution (MRC) of each asset must be equal. The Optimization Setupīy Changing: Weights of the assets (S&P 500 and TLT)Ģ. My thought was “Huh? No way it can be that simple.” But no harm trying, I am not going to lose anything.Īlright, so what do I mean when I say “variables on the righthand side of the equation”? Let’s use an example. When I first read it, I was kind of dubious.
#Excel analytic solver platform optimal solution mac#
That is until I chance upon a forum where someone mentioned that MAC Solver does not handle constraints well if you put variables on the righthand side of the equation.
#Excel analytic solver platform optimal solution code#
It seems like a lost cause unless I code up my own “Solver”. It is inconceivable that such an issue remains after so many years! And the best part is that there don’t seem to be any viable solution out there. But some of my students were using the latest Excel 2019 version. Most of the complaints appear to come from users of Excel 2016. It seems like many other MAC users experience various problems using Solver. If it happens to all the MAC users in my class, then this is definitely not an isolated case. So the verdict then? I don’t have the SLIGHTEST CLUE why it didn’t work! And a random thought crossed my mind: “Maybe Microsoft is out to screw Apple users?”Īfter the course end, I call forth the POWER of GOOGLE to see if others encountered the same issue. But all of them were following my instructions correctly. So I ended up spending the next 10 minutes troubleshooting with a few of them to see what went wrong. It came up with a sub-par solution that violates the constraints I set. Somehow, their Solver is not giving them the correct solution. MAC Excel Solver Unable to Find The Solutionīut as it turns out, my students running on MAC laptops cannot get the same results that I did. Sounds like all grounds covered? Or at least that is what I thought. Prior to this, I made sure it works on my PC, my wife’s MS Surface, my friend’s Windows-based laptop and MAC Book.
#Excel analytic solver platform optimal solution how to#
Well, I was illustrating how to use Microsoft Excel and Solver to perform a simple portfolio optimization comprising 2 assets. Everything went as planned until I was on the topic of portfolio optimization. I just recently delivered a course on quantitative techniques to investing.
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