Linear Programming (LP) Optimization with Excel Solver

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  • Опубликовано: 4 ноя 2024
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Комментарии • 255

  • @goonhead3791
    @goonhead3791 5 лет назад +78

    Man thank you I wish I could give you my money instead of my professors. I’ll repay you one day

    • @MattMacarty
      @MattMacarty  5 лет назад +4

      Glad it helped. c

    • @matthewh4377
      @matthewh4377 4 года назад +6

      Thank you Matt! Ive spent hours trying to interpret my professor's videos and you taught this in 20 mins! My university needs to fire my professor and give me a refund as well! - Thanks dude! Im sending your link to the class

    • @belladonnagammidge8572
      @belladonnagammidge8572 3 года назад

      I got help from thechinahacks financially .They got me a transfer of $37,000 just yesterday .

    • @soulmanjerome07
      @soulmanjerome07 3 года назад

      @@MattMacarty This is a great review on how to use solver. Any other ones? I second Goon Head's comment. My professors focused on the results but not the Answer Report, Sensitivity Report, and Limits Report.

    • @yonathantadesse3385
      @yonathantadesse3385 3 года назад

      lol 😂 for real

  • @8sevenstudiosphotography469
    @8sevenstudiosphotography469 3 года назад +1

    It baffles me that Matt made this problem so easy to understand. Why can’t my Professor break it down like this? Thanks Matt!

  • @CT-mc3sy
    @CT-mc3sy 4 года назад +18

    Thank you!!! So much better than my prof at explaining, especially since you use much clearer terms.

    • @MattMacarty
      @MattMacarty  4 года назад

      Thanks. Glad it helped.

    • @justinfay3011
      @justinfay3011 Год назад

      @@MattMacarty Do you help with homework at a reasonable $/hr rate? The model I have to create is very complicated!

  • @jimparsons6803
    @jimparsons6803 3 года назад +3

    Interesting. ... going to school in the early 70s, we did all of this by hand... with the use of a slide rule to estimate the answer and then draw a couple of graphs by hand to zero in on the better answer. Them were the days!! Enjoyed the clip.

    • @MattMacarty
      @MattMacarty  3 года назад

      They still teach that in school, but without the slide rule.

    • @jamesquaranto8606
      @jamesquaranto8606 2 года назад

      @@MattMacarty we would just use our Ti-84 and a pencil and paper to solve these in my operations management class.

  • @CamilleEssick
    @CamilleEssick 5 лет назад +4

    I think I watched about 5 videos before I found one that has the best example on what to do. Thanks!!! Short and Simple!!

  • @rinchentshering4661
    @rinchentshering4661 26 дней назад

    The video shows several important concepts;
    1. he introduces the basic linear programming purpose and application
    2. show how to formulate linear programming problem
    3. how to input data in excel and use solver to find optimal solution
    4. it also shows real world scenarios to show how linear programming can help solve complex decision making.
    And in my opinion this solution is the best.

  • @williamhylen327
    @williamhylen327 3 года назад

    You are a god among men. This is the best explanation of this I have heard. Thank you.

  • @88spaces
    @88spaces 5 лет назад +3

    Matt, thank you for taking the time to produce this video. It has helped me a lot.

  • @nirtheart
    @nirtheart 4 года назад

    Edit: I found it! I had to go to Data/Solver and then go through the set-up there and the "Limits Report" showed up! Thank you so much for the video again!
    Thank you for the insightful video! Only thing I was unable to do on my own when following your video was to find the "Limits Report" which didn't show up anywhere in my Excel document. I'm using the newest versions of things, so it probably is just somewhere I don't know where to look for it

  • @melo4246
    @melo4246 2 года назад

    Extremely good video. I was pulling my hair in class because my teacher was confusing everyone. Thank you!

  • @portaltaker
    @portaltaker 2 года назад

    Saved me for my Quantitative Analytics module! My lecturer explained this so badly, thank you!

  • @ravneethanda8228
    @ravneethanda8228 4 года назад +1

    Thank you so much. I was struggling to solve LP with excel solver and your video helped me a lot.

  • @kushikachhabra8021
    @kushikachhabra8021 4 года назад

    Great video. My professor took 2 hours to teach this method and i did not understand a thing. whereas you made me understand it in 10 mins. :)

  • @AbdoulayeDiallo-xu4hx
    @AbdoulayeDiallo-xu4hx 4 года назад

    Wow man, you are a LEGEND; the way you explain.... just wow. I wish I could trade you with my professor.

  • @rozthepuffer1037
    @rozthepuffer1037 3 года назад +1

    My professor literally gave us a link to this video instead of just teaching it himself, I wish I can just take back the money I gave to my professor and give it to you instead. Have my like and sub cuz idk how else to repay u back

  • @Dret4288
    @Dret4288 5 лет назад +1

    Let me tell you. You definitely aleviated a headache and got me out of a tough spot. You explained and showed me this in a manner that was easy to pick up thanks a ton.

    • @MattMacarty
      @MattMacarty  5 лет назад +1

      Thanks very much. Glad it helped.

  • @RandlemanProductions
    @RandlemanProductions 11 месяцев назад

    Thank you so much!!!! I had so much trouble with understanding this and you explained it perfectly. I now understand this. THANK YOU!!!

  • @zizo8737
    @zizo8737 11 месяцев назад

    I don’t understand why professors make so difficult huhhh thanksss a lot man❤

    • @MattMacarty
      @MattMacarty  11 месяцев назад

      Thanks. Glad it helped

  • @Light-vu6ws
    @Light-vu6ws 3 года назад

    You're awesome for replying to every comment. Good video!

  • @user-ru2ry7rm3p
    @user-ru2ry7rm3p 6 лет назад +1

    Thank you for posting this! you explained it in a easy but clear way. Now, I know how to solve my assignment problem. Thank you!

  • @ASB-cf2ke
    @ASB-cf2ke 7 лет назад +10

    easy way to learn ,good work to the developers of the video

  • @laurenwood2702
    @laurenwood2702 5 лет назад +1

    Easy to understand and so much easier than doing the simplex method by hand 🙏🙌 Thank you!

  • @meatbeater5425
    @meatbeater5425 4 года назад

    You saved my ass. I have an assignment on this and I had no idea before I watched this video.

  • @RamandeepSingh-kk4zt
    @RamandeepSingh-kk4zt 2 года назад

    This is the best explanation I've seen so far💯 ,Thank you Sir☺️

    • @MattMacarty
      @MattMacarty  2 года назад

      You are welcome. Glad it helped.

  • @jrels
    @jrels Год назад

    Thorough and clear explanation. THANKS so much :)

  • @clmkc5393
    @clmkc5393 2 месяца назад

    Using this in a business merger and acquisition deal in the Midwest. Its a maximization problem of how much capital to allocate to acquisition 1 vs acquisition 2. Its tricky in that the constraints are sensative to changes and are somewhat subjective. For example, we are using return on investment (ROI) as our maximization goal - similar to the "profits goal" in the video. However, the characteristics used as inputs on ROI have some nuances - i.e, capitalization rates, time horizon, standard deviation of cash flows, industry betas and overall risk profiles. Nevertheless, it does provide a methodology to analyze capital allocations to different investments.
    I saw the other comments about how Linear Programming is taught at the university level. I experienced the same issue at both the undergraduate and graduate level. It was the most time intensive class I took and most of the learning I received was from my own investigation as the Prof didn't seem to care much about what we absorbed or was so far advanced that he had a difficult time bringing down to an introductory level. Stay with it though - its good real world usage your getting.

  • @zainabhashimi
    @zainabhashimi 6 лет назад +7

    it was easy to learn and certainly very helpful to me. Thank you so much for making this video!

  • @mrmoe5272
    @mrmoe5272 3 года назад

    Better than my professor explanation that took 6 classes and I did not understand a thing

  • @stephenip3259
    @stephenip3259 4 года назад

    Back in the days, we used simplex method, and I wrote C program to solve the opimization... now there is an excel solver.... People have forgotten the importance of solving problems on their own.

    • @MattMacarty
      @MattMacarty  4 года назад

      Agreed If I were in a classroom I would have started by solving with Simplex and then moved onto Solver. Most courses still cover with a graphical example so you can see what's going on but as soon as you move past a couple of variables pretty much everyone is using a solver. I was actually considering showing Simplex with a python program but I haven't gotten to it yet.

  • @arwinderkaur4411
    @arwinderkaur4411 4 года назад

    Hi Matt! Thanks for your video, this really helped me to find the LP for my problem.

  • @nomnom914
    @nomnom914 Год назад

    thanks, gonna use this to find probable missing amounts

  • @satviksoni8499
    @satviksoni8499 3 года назад

    so so so helpfull, gonna submit my semester project with t your spreadsheet. thank you so muchh

  • @reinssz
    @reinssz 3 года назад

    Thank you so much for this video. It really helps a lot for my upcoming report with this kind of topic. Thanks a bunch!

  • @powellnine1477
    @powellnine1477 3 года назад

    Thank you very much for your RUclips video. I’ve subscribed to your channel.

  • @soumyadeepchatterjee2189
    @soumyadeepchatterjee2189 3 года назад

    Explained clearly. Thank You, Matt!

  • @oneandonlylfs8406
    @oneandonlylfs8406 6 лет назад +1

    THANK YOU! This helped me finally understand Solver.

  • @kayodeolakunleoluwaseyi4273
    @kayodeolakunleoluwaseyi4273 3 года назад

    Wonderful video... Can we use excel solver to solve goal programming?

    • @MattMacarty
      @MattMacarty  3 года назад +1

      Yes, you may also be able to simply use goal seek

  • @nayaroni
    @nayaroni Год назад

    So helpful, thank you so much Matt!

  • @AniMax_cjs
    @AniMax_cjs 3 года назад

    you're really a good tutor. thank you so much. this helped a lot.

  • @erickodhiambo3783
    @erickodhiambo3783 3 года назад

    Very clear and easily understood.
    Thank you

  • @LiLi-ul8jy
    @LiLi-ul8jy 5 лет назад

    Do you have an example on linear programming to minimize interest payment? Example whether to get bank loan at the beginning of the year or monthly loan or combination of both types of loan. I can’t seem to find any examples online. Hope you can show an example. Thank you.

  • @evridikson
    @evridikson 4 года назад

    Saved me a lot of time and stress, can't thank you enough!!

  • @mrfoxviiska
    @mrfoxviiska 4 года назад

    Thanks. You teach better than my prof. who teach in the most famous university in my country.... #youtuisbetterteacherthanteacherinclass

  • @alifikri9824
    @alifikri9824 3 года назад

    im student from indonesia, thank youu this video really helpful :)

    • @MattMacarty
      @MattMacarty  3 года назад

      Glad it was helpful!

    • @surik.5481
      @surik.5481 3 года назад

      sen türk değil misin şimdi? ali fikri türkçe ad değil mi?

  • @Tsunade64
    @Tsunade64 7 лет назад +3

    Thank you! Awesome job btw, and very clearly and thoroughly explained :)

  • @brandycurtisrichards6946
    @brandycurtisrichards6946 4 года назад +2

    Great video! Thank you so much for the explanation.

  • @houssainchaer8335
    @houssainchaer8335 3 года назад

    Your channel it s very helpful 👏👏
    I just want to ask How we can use linear programming for asset allocation

    • @MattMacarty
      @MattMacarty  3 года назад +1

      HI. Take a look at this one: ruclips.net/video/sI5X2kJA_4k/видео.html

    • @houssainchaer8335
      @houssainchaer8335 3 года назад

      @@MattMacarty can we solve it with simpleLP ?

    • @MattMacarty
      @MattMacarty  3 года назад +1

      @@houssainchaer8335 Well whatever we do is based on a forecasted return and volatility. There are many ways to formulate the problem, my video describes one of them where we maximize Sharpe ratio.

  • @iWillRun_
    @iWillRun_ 5 лет назад

    My Professor shared this Video with in class :)

    • @MattMacarty
      @MattMacarty  5 лет назад +1

      Thanks, hop it helped.

    • @iWillRun_
      @iWillRun_ 5 лет назад

      @@MattMacarty Thankyou too :)

  • @Faz527
    @Faz527 Год назад

    Wow! well explained. Thanks.

  • @1rasha
    @1rasha 2 года назад

    This sensitivity report is not clear. Can you make a detailed video on its analysis please

    • @MattMacarty
      @MattMacarty  2 года назад

      You mean you can't see the report? You can changethe settings to HD and that should clear it up.

  • @NinOo794
    @NinOo794 Год назад

    Can you give me the same example (question, issue) Because I want to solve it on my own?

    • @MattMacarty
      @MattMacarty  Год назад

      Hi. I am not sure what you mean. If you want to download the spreadsheet I used follow this link: alphabench.com/data/linear-programming-optimization.html

  • @ltrof
    @ltrof 2 года назад

    man you are literally a god thank you so much !!!!!

  • @laksyy
    @laksyy 5 лет назад

    Very clear and concise tutorial thank you!

  • @mookaclement2270
    @mookaclement2270 2 года назад

    Hello Matt, what keys did you press for you to change (B4:C4) to ($B$4:$C$4)??

    • @MattMacarty
      @MattMacarty  2 года назад +1

      It's F4 (function4) in Windows, command + T in MAC

  • @s108t
    @s108t 2 года назад

    thanks Matt, you're awesome

  • @KCRcats
    @KCRcats 2 года назад

    Thank you! This helped a lot

  • @jmac2500
    @jmac2500 5 лет назад

    Very helpful and straight forward - thank you!

  • @mariamelendez8615
    @mariamelendez8615 4 года назад

    Thank you for making this video!

  • @hakankosebas2085
    @hakankosebas2085 Год назад

    can you do it with multiple objective? and can we pick one thing from list with multiple objective problem with excel solver?

    • @MattMacarty
      @MattMacarty  Год назад

      You can only have one objective function.

  • @jemimamagak
    @jemimamagak 6 лет назад +3

    You are incredible thank you for your help 🙏🤗

  • @onyemaugoh4813
    @onyemaugoh4813 2 года назад

    Thank you so much this was super helpful

  • @Philantrope
    @Philantrope 3 года назад

    Thank you - very well explained!

  • @CaptainMoroni9
    @CaptainMoroni9 5 лет назад

    Very easy to understand, thank you!

  • @HungTran-fj8hg
    @HungTran-fj8hg 5 лет назад +1

    Saved my life homie. Much love.

  • @minseokkim7097
    @minseokkim7097 6 лет назад

    Thank you so much. Can I share this youtube with my students?

    • @MattMacarty
      @MattMacarty  6 лет назад

      Thanks. Yes please feel free to share.

  • @mohammadrezaghasemi6792
    @mohammadrezaghasemi6792 5 лет назад

    Thank you Matt. It was very helpful for me 🙏

  • @chuchillspanzer3911
    @chuchillspanzer3911 Год назад

    hello! This is so good my MBA stats prof links this video to show us a different way to learn this.
    I did have a question! is it possible to get a region of feasibility and/or a graph of such using this method?

    • @MattMacarty
      @MattMacarty  Год назад

      Thanks. Yes you can at least easily plot the results of a data table with profit as the objective and varying production levels. This should result in a line graph or you can plot as an area chart.

  • @nathaniellmolinaa5188
    @nathaniellmolinaa5188 3 года назад

    when i add subj to constraints it says unequal number of cell ref and constraints, however they are equal, how do i fix this? thanks great video btw, just encountered some technical difficulties

    • @MattMacarty
      @MattMacarty  3 года назад +1

      Thanks. It's probably telling you that you have selected different dimensions for one of the ranges, so maybe three cells for one and two for the other or something similar. You can download the spreadsheet here:
      alphabench.com/data/linear-programming-optimization.html

  • @GSZ818
    @GSZ818 6 лет назад +4

    Thank you so much, really helped a lot!! Awesome work

  • @calliebless6894
    @calliebless6894 4 года назад

    How do you do a weight using your format? I have a problem that I set up just like you did, but one product cannot account for more than 50% of units produced and another has to account for at least 20%. Thanks for your help!

    • @MattMacarty
      @MattMacarty  4 года назад

      So you need side constraints. This example has something like what you are talking about: ruclips.net/video/C_v0rlpTEmc/видео.html

  • @mariavelasco4422
    @mariavelasco4422 Год назад

    Thank you! Very helpful

  • @mdaroza
    @mdaroza 10 месяцев назад

    I'm wondering if you can help set up the following question in Solver:
    I'm travelling 15000km. Each tire has travel a max distance of 10000km (assume I start with a set of 4 tires).
    What is the min number of tires I need to use to complete the trip?

    • @MattMacarty
      @MattMacarty  10 месяцев назад

      I may be missing something, but this sounds like a simple algebra problem

    • @mdaroza
      @mdaroza 10 месяцев назад

      @@MattMacarty I'd like to know if Solver is smart enough to calculate that I need 6 tires as opposed to 8.

    • @MattMacarty
      @MattMacarty  9 месяцев назад

      It should if you set the objective to minimize instead of maximize.

    • @mdaroza
      @mdaroza 9 месяцев назад

      @@MattMacartyI think this is where I’m struggling with, is to set up the constraints.

  • @umarwaqas649
    @umarwaqas649 6 лет назад

    Thank you. Well explained. Great Job (thumbs up).

  • @roardinoson7
    @roardinoson7 6 лет назад

    Thanks Matt - it was help in college

  • @poorlydrawnstickman1660
    @poorlydrawnstickman1660 3 года назад

    Very helpful! Thank you.

  • @aashishphatate7003
    @aashishphatate7003 5 лет назад

    Thank you! Video was very helpful!! :)

  • @oussamadeziri4806
    @oussamadeziri4806 6 лет назад

    Thanks for the help! Definitely useful stuff

  • @troooooper100
    @troooooper100 3 года назад

    what course do you learn this in? operations management?

    • @MattMacarty
      @MattMacarty  3 года назад +1

      There used to be a course called management science or operations research. Now it may be covered in OM.

    • @troooooper100
      @troooooper100 3 года назад

      @@MattMacarty cool it will help google stuff

  • @VedikaKhandelwal
    @VedikaKhandelwal 3 года назад

    LIFESAVER THANK YOU SO MUCH

  • @indianarchangel
    @indianarchangel 3 года назад

    Hi Marty, do you have this as a certificate course on Udemy?

  • @kyle3818
    @kyle3818 5 лет назад

    Video really helped me! Thank you!

  • @desipuspitasari7079
    @desipuspitasari7079 5 лет назад

    Thank you so much!! Now I understand a lot!

  • @Icey_tata
    @Icey_tata 6 лет назад

    hi- to define if i exceeding daily usage what would be my constraints?

    • @MattMacarty
      @MattMacarty  6 лет назад

      I think you will just have to compare actual usage with "optimal" usage

  • @samilab1097
    @samilab1097 5 лет назад +1

    1. Consider X Shipping, a firm owned by Y. One of her trucks, with a capacity of 10,000 pounds, is about to be loaded. Awaiting shipment are the following items:
    Item Value (Birr) Weight (in Kilogram)
    1 22500 7500
    2 24000 7500
    3 8000 3000
    4 9500 3500
    5 11500 4000
    6 9750 3500
    The total value of the items loaded onto the truck without exceeding the truck’s weight capacity. Solve this LP problem, using Excel’s Solver.

    • @MattMacarty
      @MattMacarty  5 лет назад

      This sounds like a transportation problem. See this video: ruclips.net/video/C_v0rlpTEmc/видео.html

  • @SuperMegamalik
    @SuperMegamalik 6 лет назад

    Excellent Matt

  • @merinasaha3669
    @merinasaha3669 6 лет назад

    Can you articulate the example in a paragraph or give the link of the example?

    • @MattMacarty
      @MattMacarty  6 лет назад

      Hi. I have posted in the video description: ruclips.net/video/6xa1x_Iqjzg/видео.html

  • @henrymsipa2191
    @henrymsipa2191 4 года назад

    very helpful, thank you very much for sharing

  • @jamieharvie9827
    @jamieharvie9827 3 года назад

    Hi! I am a little confused about 5:37 for the total profit function. Can you explain what you did? I tried sum product for the number to make * used numbers and got VALUE!.

    • @MattMacarty
      @MattMacarty  3 года назад

      This may mean you have selected the wrong range for one of the arguments or ranges of different sizes. You can download my spreadsheet here: alphabench.com/data/linear-programming-optimization.html

  • @rishondanapier1445
    @rishondanapier1445 2 года назад

    Thank you so much.

  • @HorlineMeleu
    @HorlineMeleu 29 дней назад

    Grazie mille Signore

  • @leecurcio6132
    @leecurcio6132 5 лет назад

    Hi. I have a question. I created a macro (VBA) that emulates the solver by clicking on a button. The problem is that sometime I have to click 3-4 times before getting the last results. Do you know how to avoid this and getting on solution with one click?

    • @MattMacarty
      @MattMacarty  5 лет назад

      Hi. This is really difficult to diagnose, but one thing to consider is that usually there are many feasible solutions, but only one optimal solution. it sounds like maybe your script is stopping once it finds a feasible solution and then on subsequent runs it gets closer and closer to the optimal. Another common problem is in the modeling step. It's pretty easy to design your model in such a way that it is no longer linear. When this happens you sometimes end up with "local" optima rather than global optima.

  • @davidszabo9302
    @davidszabo9302 4 года назад

    Thank you so much!!!

  • @nomnom914
    @nomnom914 Год назад

    how can i add a constraint to disable the use of decimal?

    • @MattMacarty
      @MattMacarty  Год назад +1

      You can solve as an integer problem, but it's likely better to just decrease decimals in Excel

    • @nomnom914
      @nomnom914 Год назад

      @@MattMacarty found it, its in the constraints button, set the operator to int

    • @MattMacarty
      @MattMacarty  Год назад

      @@nomnom914 Yes

  • @milesdeichler9700
    @milesdeichler9700 4 года назад

    Thank you so much

  • @bintalkuds
    @bintalkuds 4 года назад

    how did you do the absolute referencing

    • @MattMacarty
      @MattMacarty  4 года назад

      In windows it's F4. Mac is command + T

  • @baselineiggy
    @baselineiggy 4 года назад

    Why is my Objective coefficient different in my sensitivity analysis than it is in my LP model?

    • @MattMacarty
      @MattMacarty  4 года назад

      Did you select Simplex method before solving? Did you change it in the spreadsheet after solving?

    • @baselineiggy
      @baselineiggy 4 года назад

      @@MattMacarty I re-did the entire sheet and resolved and am still having the same issue. The Decision variables are correct and the objective value is correct. I just can't execute the sensitivity analysis because all of the objective coefficients are incorrect. This specific problem is unique in that there are some routes that can not be used - I think maybe that has something to do with it - although I was able to execute a sensitivity analysis with an earlier version of the spreadsheet. Thanks for the help also!!

    • @MattMacarty
      @MattMacarty  4 года назад

      @@baselineiggy Maybe download my spreadsheet and strat from there: alphabench.com/data/linear-programming-optimization.html

    • @baselineiggy
      @baselineiggy 4 года назад

      @@MattMacarty Thankyou

  • @umargalaria6909
    @umargalaria6909 3 года назад

    How to avoid decimal number. I want natural number but i keep getting decimal numbers

    • @MattMacarty
      @MattMacarty  3 года назад

      Yes it happens. Probably the easiest thing is to hide the decimals. You could also force integer values by setting int as a constraint on the changing cells.

  • @adolfom9091
    @adolfom9091 6 лет назад

    You are the man!

  • @TerryBowl
    @TerryBowl Год назад

    perfect thanks!

  • @CarlosOrtiz-ht6rn
    @CarlosOrtiz-ht6rn 5 лет назад

    Thank you!