 Introduction to Linear ProgrammingR. Srinivasan ()
Chapter Chapter 2 in Strategic Business Decisions, 2014, pp 9-21 from Springer Abstract: Abstract Linear programming (LP) is an optimization model in which the objective functions and the constraints are strictly linear. It is used in a wide range of areas such as agriculture, transportation, economics, and industry. Advent of computers has made it the backbone of solution algorithms for other OR models including integer, stochastic, and nonlinear programming. In this chapter, we discuss a two-variable LP model and present its graphical solution. The LP model will contain an objective function, set of constraints, and non-negativity restrictions. Each component will be evaluated on one or more of the following: decision variables, objective function coefficients, technical coefficients, and resources availability. The key takeaways for the reader from this chapter are listed below: A good understanding of LP problems. Formulation of the two-variable LP problem. Understanding optimization in the contexts of minimization and maximization objective functions. Representing a two-variable LP model graphically. Keywords: Linear programming; LP model; LP graphical; Optimization (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-81-322-1901-9_2 Ordering information: This item can be ordered from DOI: 10.1007/978-81-322-1901-9_2 Access Statistics for this chapter More chapters in Springer Books from Springer |
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