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Original Title: Optimization of a List in Excel With Variables

Uploaded by sharkass

- Optimization of a List in Excel With Variables
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I have a list of 153 golfers with associated salaries and average scores.

I want to find the combination of 6 golfers that optimizes avg score and keeps salary under $50,000.

1.

2.

Column B is the golfers salaries (generated by =RANDBETWEEN(50, 125)*100, filled down, then

Copy/Paste Values)

3.

Column C is the golfers average scores (generated by =RANDBETWEEN(70, 85), filled down,

then Copy/Paste Values)

4.

Column D is a 0 or 1 to indicate if the golfer is included.

5.

Cell F2 is the total salary, given by =SUMPRODUCT(B2:B154,D2:D154)

6.

Cell G2 is the number of golfers, given by =SUM(D2:D154)

7.

Cell H2 is the average score of the team, given by =SUMPRODUCT(C2:C154,D2:D154)/G2

The page looks like this, before setting up Solver ...

According to the help, it says to use Evolutionary engine for non-smooth problems. In Options, I

needed to increase the Maximum Time without improvement from 30 to 300 (60 may have been good

enough).

It took a couple of minutes for it to complete. It reached the solution of 70 fairly quickly, but spent more

time looking for a better answer.

Of the golfers with an average of 70, it could have found a lower salary.

In Cell I2 added the formula =F2+F2*(H2-70) which is essentially salary penalized by increases in

average score above 70 ...

... and use the same Solver setup, except to minimize Cell I2 instead of H2 ...

Again - it looks like there is still a better solution. It could have picked Name97 instead of Name96

--------

This is a simple optimization problem that can be solved using Excel solver (just use "Simplex Lp

solver" -- somewhat of a misnomer as we will use it here to solve an integer programming or MIP

problem).

You need one column with 153 binary (BIN) variables (Excels limit is I believe 200). Make sure you add

a constraint to set the values to Binary. Lets call this column INCLUDE; Solver will fill it with 0 or 1

values. Sum these values, and add a constraint with SUMINCLUDE=6. Then add a column with

INCLUDE * SCORE. Sum this column and this is your objective (optimizing the average is the same as

optimizing the sum). Then add a column with INCLUDE*SALARY and sum these. Add a constraint with

SUMSALARY <= 50k. Press solve and done.

I don't agree with claims that Excel will crash on this or that this does not fit within the limits of Excels

solver. (I really tried this out).

I prefer the simplex method above the evolutionary solver as the simplex solver is more suitable for

this problem: it is faster (simplex takes < 1 seconds) and provides optimal solutions (evolutionary

solver gives often suboptimal solutions).

If you want to solve this problem with Matlab a function to look at is intlinprog (Optimization Toolbox).

To be complete: this is the mathematical model we are solving here:

....

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