Subject category:
Case Method and Specialist Management Disciplines
Published by:
Darden Business Publishing
Length: 3 pages
Topics:
Management science
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Abstract
Problem set contains three problems designed to help students practice their ability to build math programming models. Problem 1is 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).
About
Abstract
Problem set contains three problems designed to help students practice their ability to build math programming models. Problem 1is 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).