MANSCIE(2)

• Linear Programming


  Mathematical modeling technique in which linear function is maximized and minimized when subjected to various constraints
• Linear Programming


  • Useful for guiding quantitative decisions in business planning, industrial engineering and to lesser extent in the social and physical sciences
• Applying Linear Programming Techniques

  1. The problem must be identified as being solvable by linear programming

  2. The unstructured problem must be formulated as a mathematical model

  3. The model must be solved by using established mathematical techniques
• The functional relationships in the mathematical model are linear
• The solution technique consists of predetermined mathematical steps
• Linear Programming Model


  Consists of decision variables, an objective function and model constraints
• Model components


  • Decision variables
  • Parameters
• Linear Programming


  A mathematical modeling technique in which linear function is maximize and minimize when subjected to various constraints
• Linear Programming


  • Useful for guiding quantitative decisions in business planning, industrial engineering and lesser extent in the social and physical science
• Applying Linear Programming Techniques

  1. The problem must be identified as being solvable by linear programming

  2. The problem must be formulated as a mathematical model

  3. The model must be solved by using established mathematical techniques
• The functional relationships in the mathematical model are linear, and the solution technique consists of predetermined mathematical steps —that is, a program
• Linear Programming Model


  Consists of decision variables, an objective function, and model constraints, which consist of decision variables and parameters
• Decision Variables

  Mathematical symbols that represent levels of activity by the firm
• Objective Function

  A linear mathematical relationship that describes the objective of the firm in terms of the decision variables
• Objective Function

  Always consists of either maximizing or minimizing some value
• Model Constraints


  Linear relationships of the decision variables that represent the restrictions placed on the firm by the operating environment
• Parameters


  Numerical values that are included in the objective functions and constraints
• Steps in a Maximization Model Example

  1. Defining the Decision Variables

  2. Defining the Objective Function

  3. Defining the Model Constraints
• Linear Relationship representing a firm decision, given an object and resource constraints
• Linear Programming


  A mathematical modeling technique in which linear function is maximize and minimize when subjected to various constraints
• Linear Programming


  • Useful for guiding quantitative decisions in business planning, industrial engineering and lesser extent in the social and physical science
• Solving a general types of problem by seeking an objective that is subject to restriction


  1. Identify the problem as being solvable by linear programming

  2. Formulate the problem as a mathematical model

  3. Solve the model by using established mathematical techniques
• Linear programming model


  The functional relationships in the mathematical model are linear, and the solution technique consists of predetermined mathematical steps
• Model components


  • Decision variables
  • Objective function
  • Model constraints
• Decision variables


  Mathematical symbols that represent levels of activity by the firm
• Objective function


  A linear mathematical relationship that describes the objective of the firm in terms of the decision variables
• Model constraints


  Linear relationships of the decision variables that represent the restrictions placed on the firm by the operating environment
• Parameters


  Numerical values that are included in the objective functions and constraints
• Steps in a maximization model example


  1. Defining the decision variables

  2. Defining the objective function

  3. Defining the model constraints
• Linear relationship representing a firm decisions, given an object and resources constraints
• One variable called independent variable and another variable dependent variable