Decision Modeling/Linear Programming

Essay specific features

 

Issue:

Technology

 

Written by:

Larry C

 

Date added:

March 7, 2017

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 871

 

Was viewed:

8298 times

 

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Essay content:

Once that is developed the solution stage solves the problem and finds the variable values. During the interpretation stage the sensitivity analysis gives managers the opportunity to answer hypothetical questions regarding the solutions that are generated. There are four basic assumptions of linear programming and they are as follows: ? Certainty ? Proportionality ? Additivity ? Divisibility Linear programming is the development of modeling and solution procedures which employ mathematical techniques to optimize the goals and objectives of the decision-maker...
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Programming problems determine the optimal allocation of scarce resources to meet certain objectives. Linear Programming Problems are mathematical programming problems where all of the relationships amongst the variables are linear. Components of a LP Formulation are as follows: ? Decision Variables ? Objective Function ? Constraints ? Non-negativity Conditions Decision variables represent unknown quantities...
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