7.2 Formulating LP Problems
Formulating a linear program involves developing a mathematical model to represent the managerial problem. Thus, in order to formulate a linear program, it is necessary to completely understand the managerial problem being faced. Once this is understood, we can begin to develop the mathematical statement of the problem. The stpng in formulating a linear program follow:
Completely understand the managerial problem being faced.
Identify the objective and the constraints.
Define the decision variables.
Use the decision variables to write mathematical expressions for the objective function and the constraints.
One of the most common LP applications is the product mix problem. Two or more products are usually produced ...
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