Busn661 | Management homework help



For this week’s discussion are asked to define optimization and the Solver tool on excel. Optimization in Excel is used for deciding on the best outcome, or the objective one would like to reach (Foreman, 2014). When optimizing an objective, one is either maximizing or minimizing the objective (Foreman, 2014). An example of minimizing is lowering the shipping costs of products or minimizing the prices for parts to a product. The optimization option in Excel is an Add-in, and it links with Excel Solver to solve complex problems. The Solver allows the user to plug in the data, and once the information is added, one must select the cells needed to provide a decision (Foreman, 2014). The Solver can then provide a solution to whatever problem it is asked (Foreman, 2014). There are three parts to Excel optimization: target cells, changing cells, and constraints (Winston, 2014). In business, management and decision-makers can use optimization in Excel for many different objectives. “The purpose of optimization is to achieve the “best” design relative to a set of prioritized criteria or constraints” (Kelley, 2010). One can use optimization to their advantage by identifying the areas of strengths and the areas of weaknesses of services, products, and the overall performance of a business. 

               The Solver option, once set up on Excel, can be found in the Analysis section under data (Foreman, 2014). However, according to our book Microsoft Excel 2013: Data Analysis and Business Modeling to set up the Solver option on Excel, you must first go to File and select the options button and Add-ins (Winston, 2014). You must then choose Excel Add-ins and hit Go (Winston, 2014). Lastly, select the Solver Add-in option and hit Ok (Winston, 2014). 



Foreman, J. W. (2014). How to Solve Optimization Problems with Excel and Solver. Computerworld. Retrieved from: How to solve optimization problems with Excel and Solver | Computerworld

Kelley, T. R. (2010). Optimization, an Important Stage of Engineering Design. Utah State University. Digital [email protected]. Retrieved from: Optimization, an Important Stage of Engineering Design (usu.edu)

Winston, W. L. (2013). Microsoft Excel 2013: Data Analysis in Business. O’Reilly Media Inc. Retrieved from: 28. Introducing optimization with Excel Solver – Microsoft Excel 2013: Data Analysis and Business Modeling (apus.edu)


The Merriam-Webster dictionary defines optimization as an act, process, or methodology of making something (such as a design, system, or decision) as fully perfect, functional, or effective as possible.  Likewise, dictionary.com defines optimization as a mathematical technique for finding a maximum or minimum value of a function of several variables subject to a set of constraints, as linear programming or systems analysis.  It is the definition from dictinaly.com that best describes this week’s subject.  Furthermore, we can use the description from dictionary.com to explain the Solver tool in Excel.  According to Microsoft, Solver is an Excel add-in program used to find an optimal (maximum or minimum) value for a formula in one cell subject to constraints on the values of other formula cells on a worksheet.  For example, imagine you are in charge of setting up a fundraiser.  The budget for the event is $500, and there are three different products cost $2, $3, and $4 to buy.  Additionally, each product has different profit margins of $.50, $1.00, and $.75.  Lastly, there is a minimum order of 25 units for each product. Based on this information, you can use the Solver tool in Excel to find the combination of products that will maximize the profits without going over the budget.

First, it is necessary to clarify the primary goal.  Since it is a fundraiser, the goal is to maximize profit while reducing costs. Next, it is necessary to determine the parameters: the price and profit margin for each product. After defining the parameters, it is necessary to define the constraints.  In our case, the constraints are the budget and the minimum order requirement for each product.  Finally, it is possible to create an Excel file and use Solver (see picture below).  For our example, Solver recommends buying 25 units of product A, 116 units of product B, and 25 units of product C for a maximized profit of $147.25.  This is a simple example of how to use this powerful tool.


Rommel Blanco


Dictionary.com. (n.d.). Optimization. In Dictionary.com dictionary. Retrieved March 19, 2021, from https://www.dictionary.com/browse/optimization

Merriam-Webster. (n.d.). Optimization. In Merriam-Webster.com dictionary. Retrieved March 19, 2021, from https://www.merriam-webster.com/dictionary/optimization

Microsoft. (n.d.). Define and solve a problem by using Solver. https://support.microsoft.com/en-

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Papers Owl, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Papers Owl has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.


Essay Writing Services

At Papers Owl, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.


Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.


Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.


Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.