1. Introduction to Spreadsheet Models for Optimization

  1. Kenneth R. Baker

Published Online: 7 MAR 2011

DOI: 10.1002/9780470949108.ch1

Optimization Modeling with Spreadsheets, Second Edition

Optimization Modeling with Spreadsheets, Second Edition

How to Cite

Baker, K. R. (2011) Introduction to Spreadsheet Models for Optimization, in Optimization Modeling with Spreadsheets, Second Edition, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9780470949108.ch1

Author Information

  1. Tuck School of Business, Dartmouth College, Hanover, NH, USA

Publication History

  1. Published Online: 7 MAR 2011
  2. Published Print: 4 APR 2011

ISBN Information

Print ISBN: 9780470928639

Online ISBN: 9780470949108

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Keywords:

  • optimization models;
  • optimization software;
  • risk solver platform (RSP);
  • spreadsheet models

Summary

This is the introductory chapter of this book, which focuses on optimization problems expressed in the form of spreadsheet models and solved using a spreadsheet-based approach. To restate premise, the author interested in mathematical models. Specifically, he interested in two forms-algebraic and spreadsheet models. In optimization models, the chapter is concerned with maximizing or minimizing some measure of performance, expressed as a mathematical function, and refers it as the objective function, or simply the objective. With optimization, a spreadsheet model contains the analysis that ultimately provides decision support. For this reason, the spreadsheet model should be intelligible to its users, not just to its developer. Optimization procedures find the best values of the decision variables in a given model. Risk Solver Platform (RSP) is an integrated software package that includes more than just optimization capabilities.

Controlled Vocabulary Terms

Business process optimization; spreadsheet