Optimization and the Excel Solver
This course covers Optimization and the Excel Solver and consists of 27 topics.
Introduction to Solver Part One – In this video we introduce the concept of optimization and show how the Excel Solver can be used to find a profit-maximizing product mix.
Introduction to Solver Part Two – This video builds upon the previous video on Solver Optimization.
Introduction to Solver Part Three – This video builds upon the previous two videos on Solver Optimization.
Transportation – In this video we show how to find the cost minimizing distribution strategy that ships products from plants to customers.
Scheduling – In this video we show how to use the Excel Solver to find cost minimizing workforce schedules.
Capital Budgeting – In this video we show how to choose the subset of 20 projects that maximizes NPV subject to limited resources.
Fantasy Sports Part One – In this video we show how binary changing cells can be used to select Daily Fantasy Lineups.
Fantasy Sports Part Two – This video is a continuation of the previous Fantasy Sports Example.
Financial Solver – In this video we show how to use the Solver to solve for monthly mortgage payments and your needed annual retirement contribution.
NFL Point Spreads – In this video we show how to predict winners of NFL games based on past scores.
NFL Totals – In this video we show how to use scores of past NFL games to predict scores of future games.
Pricing Model – In this video we show how to estimate the demand for lipstick and use Solver to find a profit-maximizing price.
Warehouse Location – In this video we show how to locate one or two warehouses to minimize the distance shipments travel to customers.
Finding Distances – In this video we give a complex formula that approximates (based on latitude and longitude of two locations anywhere on Earth) the distance between the two locations.
Demand Sensitivity to Price Change – In this video we show how to determine for a given percentage price change, the change in demand needed to break even.
Saving for 1 Year Salary – In this video we show how to determine how much money needs to be saved each year so that in 10 years we have accumulated one year of salary.
Sampling Plan For Attributes – In this video we show how to use the Solver to determine a sampling plan that has a high chance of accepting a batch with a low fraction of defectives and a high probability of rejecting a batch with a high fraction of defectives.
The Assignment Problem – In this video we show how to use the Solver to assign school bus drivers to bus routes.
The Transshipment Problem – In this video we show how to minimize the cost of shipping a product from plants through warehouses to customers.
Inventory Model – In this video we show how to use solver to solve a simple inventory problem.
The Shortest Route Problem – In this video we show how to use the Solver to find the shortest route between two nodes.
Hypothesis Testing For a Population Mean – In this video we show how Solver can be used to develop a hypothesis test to determine if students at a school have an average IQ larger than 100.
Asset Allocation – In this video we use the Solver to allocate an investment portfolio to gold, REITs, stocks, t-bills, and bonds.
Network Flow Model – In this video we show how to use the Solver to minimize the cost of sending material from one place to another.
Cheapest Diet – In this video we use the solver to find the cheapest diet of McDonald’s foods that meet various nutritional constraints
Calculating a Final Grade with Variable Weight on Tests – In this video we use Solver to determine the exam score needed on a final to obtain a desired course grade when the low test counts for 1/2 the weight of other tests
Using Solver for Negotiation – In this video we show how Solver can be used to improve the results of a negotiation for both parties