or a written response to the following assignments located …

or a written response to the following assignments located in the text: ·Ch. 7, Practice Problem: 14 ·Ch. 8, Practice Problem: 18 ·Ch. 9, Practice Problem: 17 ·Ch. 11, Practice Problems: 11 & 12 . Methods of computation may include the usage of Microsoft® Excel®, SPSS™, Lotus®, SAS®, Minitab®, or by-hand computation.

 

Answered

Optimization in Mathematical Computation

In the field of mathematical computation, optimization plays a crucial role in finding the most efficient solutions for a given problem. This paper will focus on four practice problems from Chapters 7, 8, 9, and 11 of the assigned text and discuss the various methods of computation that can be used to optimize the solutions.

First, in Chapter 7, Practice Problem 14, the task is to maximize the profit function subject to a constraint. Excel or other programming languages can be used to solve this problem by setting up the objective function and constraints and then using optimization algorithms to find the optimal solution.

Moving on to Chapter 8, Practice Problem 18 involves finding the optimal production quantities that will minimize costs. This problem can be solved using tools such as Excel Solver or mathematical programming languages like AMPL or GAMS.

In Chapter 9, Practice Problem 17 requires the determination of the optimal investment mix to maximize returns. This problem can be addressed through methods such as linear programming or portfolio optimization techniques, which can be implemented using software like MATLAB or R.

Finally, in Chapter 11, Practice Problems 11 and 12 involve finding the critical path and minimizing project completion time. Project management software like Microsoft Project or specialized optimization software such as Primavera P6 can be used to optimize the project schedule, considering various constraints and dependencies.

In conclusion, the process of optimization in mathematical computation involves utilizing various tools and software to find optimal solutions for given problems. Excel, SPSS, Lotus, SAS, Minitab, or manual computation can all be employed depending on the specific requirements of the problem at hand.

Sources:

1. Hillier, F. S., & Lieberman, G. J. (2014). Introduction to operations research. McGraw-Hill Education.

2. Winston, W. L. (2014). Operations research: Applications and algorithms. Cengage Learning.

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