Solve Problem: Can't Optimize Equations with Manual Method

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SUMMARY

The discussion centers on manually optimizing two equations related to sales and pricing: u=30000*(1+((x/20)-1)*-1.1) for optimum units sold and m=(u*(x-10))-300000 for margin. The user initially struggled with simplification and optimization without using Excel, ultimately finding a solution through manual calculations despite the time-consuming nature of the process. The conversation highlights the efficiency of computational methods for solving such iterative problems compared to manual approaches.

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  • Understanding of algebraic equations and optimization techniques
  • Familiarity with iterative methods for solving equations
  • Basic knowledge of margin calculations in sales
  • Awareness of computational tools for mathematical problem-solving
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  • Research iterative methods for solving nonlinear equations
  • Explore optimization techniques in mathematical programming
  • Learn about using Excel Solver for optimization problems
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Mathematicians, sales analysts, and anyone involved in pricing strategy optimization will benefit from this discussion, particularly those looking to enhance their problem-solving efficiency through computational methods.

ojsimon
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Hi

I am trying to do this manually without excel, http://office.microsoft.com/en-us/help/HA100242441033.aspx

I have come to the two equations:
u=30000*(1+((x/20)-1)*-1.1)
m=(u*(x-10))-300000

where u= optimum units sold
x= optimum price
m=margin with optimum price

I have tried simplifying these together and optimising it, but keep getting the wrong answer. Could anyone help me by providing a solution to it which matches the one on microsoft's website?

Thanks
 
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Solving this system requires iterations. You need to make a "guess" at the values of u and m and also apply the constraints to the equations. Once that is done, you solve the equations with the "guess" value store those results, solve the system with the new values, compare the results, and keep doing this until you have reach the convergence tolerance. This can tedious by hand if the system requires a lot of iterations to converge, that is why having a computer program do it for you is much more efficient.

Thanks
Matt
 
thanks but just managed to solve it the normal way, just took ages and lots of working
 

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