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Introduction to Linear Programming Discuss the requirements of a linear programming (LP) model. Provide an example of an LP model and define each variable used. What are the key steps that need to be...

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Introduction to Linear Programming

Discuss the requirements of a linear programming (LP) model. Provide an example of an LP model and define each variable used. What are the key steps that need to be considered when formulating an LP problem?

Answered Same DayMar 09, 2020

Solution

Shakeel answered on Mar 10 2020
61 Votes
Linear programming model is a mathematical model and techniques where resources are allocated under different constraints in the most efficient way to satisfy the objective. The optimal solution thus provided is very useful in planning and decision making process.
Following are the requirements of the LP model -
· There must be an objective function that seeks to be maximized or minimized. It might be profit, revenue, cost etc.
· There are some constraints for the allocation of resources through which we pursue our objective.
· Alternative course of actions are present that can be selected to achieve our goal.
· The objective function...
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