What is the Cost Function and How to Minimize it Using Excel Solver?

[tom.young84]

Introduction to Operations Research, Hiller, 3.4-12 I believe

1 2 3 4 5 New Alloy
tin 60 25 45 20 50 =40
zinc 10 15 45 50 45 =35
lead 30 60 10 30 10 =25
total 1 1 1 1 1 =1

Cost 22 20 25 24 27

Goal: minimize cost function 22x₁+20x₂+25x₃+24x₄+27x₅

Basically there is this metal company trying to make a new alloy through a linear combination of the other five alloys. At the bottom is the "cost function" which I am suppose to minimize. I actually understand how to do it, but not in Excel, which is what I am suppose to use. I'm completely unfamiliar with how to use solver.

 

[berkeman]

Introduction to Operations Research, Hiller, 3.4-12 I believe

1 2 3 4 5 New Alloy
tin 60 25 45 20 50 =40
zinc 10 15 45 50 45 =35
lead 30 60 10 30 10 =25
total 1 1 1 1 1 =1

Cost 22 20 25 24 27

Goal: minimize cost function 22x₁+20x₂+25x₃+24x₄+27x₅

Basically there is this metal company trying to make a new alloy through a linear combination of the other five alloys. At the bottom is the "cost function" which I am suppose to minimize. I actually understand how to do it, but not in Excel, which is what I am suppose to use. I'm completely unfamiliar with how to use solver.

Excel's help on the Solver is generally pretty good. Have you read through it?

 

[tom.young84]

I've tried using solver...I get something that isn't the answer. Is there a good tutorial?

 

[berkeman]

I googled excel solver tutorial, and got lots of hits. Here's the hit list -- I didn't click into any of them yet.

http://www.google.com/search?source...=1T4TSHB_enUS315US316&q=excel+solver+tutorial

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