A linear programming model consists of certain common components and characteristics. The model components include decision variables, an objective function, and model constraints, which consist of decision variables and parameters. Decision variables are mathematical symbols that represent levels of activity . The The objective function is a linear relationship that reflects the objective of an operation . The model constraints are also linear relationships of the decision variables; they represent the restrictions placed on the firm by the operating environment. The restrictions can be in the form of limited resources or restrictive guidelines. For example, only 40 hours of labor may be available to produce radios during production. The actual numeric values in the objective function and the constraints, such as the 40 hours of available labor, are A constraint is a linear relationship that represents a restriction on decision making . Parameters are numerical values that are included in the objective functions and constraints . The next section presents an example of how a linear programming model is formulated. Although this example is simplified, it is realistic and represents the type of problem to which linear programming can be applied. In the example, the model components are distinctly identified and described. By carefully studying this example, you can become familiar with the process of formulating linear programming models. |

Introduction to Management Science (10th Edition)

ISBN: 0136064361

EAN: 2147483647

EAN: 2147483647

Year: 2006

Pages: 358

Pages: 358

Authors: Bernard W. Taylor

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