Optimization Modeling Exercises

Darden Business Publishing Cases

ISSN: 2474-7890

Publication date: 20 January 2017

Abstract

The problem set contains three problems designed to help students practice their ability to build math programming models. Problem # 1 is a portfolio problem where the student is asked to find a portfolio that minimizes risk (variance) subject to a required rate of return; as such, it is nonlinear. Problem # 2 is aggregate production scheduling; hence, linear. Problem # 3 involves determining how to source a fixed quantity from a menu of vendors with differing fixed- ordering charges and per-unit prices; it is a mixed integer model. All are sufficiently small that they can be easily optimized with standard math programming software (such as Excel's standard Solver).

Keywords

Citation

Carraway, R. (2017), "Optimization Modeling Exercises", Darden Business Publishing Cases. https://doi.org/10.1108/case.darden.2016.000222

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Publisher

:

University of Virginia Darden School Foundation

Copyright © 2003 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved.

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