COMM 225 Chapter 13: Supplement 1: Linear Programming (Production and Operations Management - Second Custom Ed for Concordia)
9 Dec 2016
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Document Summary
Powerful quantitative tool used to obtain optimal solutions to constrained optimization problems, involving requirements or limitations for resources, such as available material, budget, labor, and machine time. Graphical lp: provides visual portrayal of many of important concepts of lp. Limited to problems with only two variables. Computers used to obtain solutions for problems, some of which involve large number of variables. For linear programming model to be used eectively, assume. 1. linearity: decision variable impact linear in constraints and in objective f(x: divisibility: noninteger values of decision variables are acceptable, certainty: values of parameters are known and are constant, non-negativity: negative value of decision variables are unacceptable. Graphical solution - solution method involving drawing feasible solution space and contours of objective function on paper and nding optimal solution by observation. Shows area (feasible solution space) satisfying all constraints. Objective function then plotted and used to identify optimal point in feasible solution space.
