Description
BIAM 500 Week 2 Lab DeVry
BIAM 500 Week 2 Lab
Rubric-500
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Step 1: Creation of Formulas with Constraints Touring Bike Model Mix sheet has correct set up of problem with all parameter values, constraints, and formulas.
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Step 2: Use Solver to find an optimal solution. Objectives, variables, constraints, and solution method are correctly set in the Solver dialog, and the correct optimal production quantities are shown on the Touring Bike Model Mix sheet. Answer, sensitivity, and limits reports for the solution were generated correctly.
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Step 3: Perform Sensitivity Analysis Perform sensitivity analysis showing how changing parameters by plus or minus 10% affects the solution. A scenario summary sheet was created showing how the optimal product mix is affected by changing the gross profit per unit of each model by plus or minus 10% compared to the original solution.
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Step 4: Create Monte Carlo Simulation Monte Carlo simulation calculates and charts the average gross profit over 100 simulations for the specified range of production quantities.
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Step 5: Opinion Paper Write a one-page paper explaining your findings and making recommendations. Paper is in APA format, free of typographical, spelling, and grammar errors, and clearly states appropriate findings and recommendations from the analysis.
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Total Points: 70.0
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