Introduction to Quantitative Management

Assignment

The weighting of this assignment is 20% in your final grade. You are encouraged to discuss in groups, however, the final report and LINGO implementation must be completed individually. Your work must be submitted on 14 May 2018, in the lecture in hard copy. No late submission will be accepted. The final report should at least consist of the mathematical modeling and the LINGO solution parts. • In the mathematical modeling part, describe all assumptions clearly. State decision variables, establish and explain the objective functions, and determine all constraints (restrictions) (60% of total marks). • In the LINGO solution part, provide a printout of the set based LINGO model, a solution report of LINGO, and explain the solution (what is minimum/maximum, which strategy must be applied to achieve this, etc.) (40% of total marks). Your report should follow the structure suggested below: 1) Title 2) Executive summary: a short description of the problem and summary of your results 3) Problem description: rewrite the problem according to your understanding 4) Formulation of the problem 5) LINGO implementation and interpretation of the solution report 6) Summary