Linear programming problem
Melvin T Mathew presents on linear programming problems. A linear programming problem involves determining the optimal allocation of limited resources to meet objectives. It includes a set of simultaneous linear equations or inequalities that represent resource restrictions and a linear objective function expressing total profit or cost. Linear programming is defined as a method of determining an optimal program of interdependent activities given available resources, with the objective of maximizing profit or minimizing cost subject to constraints. The solution shows the optimal amounts to produce, sell, or purchase to satisfy objectives and constraints. Linear programming is a powerful technique that can be used to solve production scheduling, manufacturing, and marketing problems.
Linear programming problem
- 1. Presented by, Melvin T Mathew Linear Programming Problem
- 2. Programming problems in general deal with determining optimal allocation of limited resources to meet given objectives . A linear programming problem includes a set of simultaneous linear equations (or inequalities) which represent the restrictions related to the limited resources and a linear function which expresses the objective function representing the total profit or cost .
- 3. Definition LP may be defined as a method of determining an optimum programme of interdependent activities in view of available resources . The objective in a LP is to maximise profit or minimize cost, as the case may be , subject to a number of limitations known as constraints . The solution to a LP problem shows how much should be produced (or sold or purchased ) which will optimise the objective function and satisfy the constraints.
- 4. Uses of LP LP is a powerful quantitative technique which can be used to solve such problems In production managing Manufacturer wants to develop production schedule For marketing manager