Summary


[Page 57]

The two example problems in this chapter were formulated as linear programming models in order to demonstrate the modeling process. These problems were similar in that they concerned achieving some objective subject to a set of restrictions or requirements. Linear programming models exhibit certain common characteristics:

  • An objective function to be maximized or minimized

  • A set of constraints

  • Decision variables for measuring the level of activity

  • Linearity among all constraint relationships and the objective function

The graphical approach to the solution of linear programming problems is not a very efficient means of solving problems. For one thing, drawing accurate graphs is tedious . Moreover, the graphical approach is limited to models with only two decision variables. However, the analysis of the graphical approach provides valuable insight into linear programming problems and their solutions.

In the graphical approach, once the feasible solution area and the optimal solution point have been determined from the graph, simultaneous equations are solved to determine the values of x 1 and x 2 at the solution point. In Chapter 3 we will show how linear programming solutions can be obtained using computer programs.




Introduction to Management Science
Introduction to Management Science (10th Edition)
ISBN: 0136064361
EAN: 2147483647
Year: 2006
Pages: 358

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