Linear Programming

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Linear Programming

QUANTITAVE TECHNIQUES OF BUSINESS ASSIGNMENT NO; 5 SUBMITTED TO; PROF. ADNAN SUBMITTED BY; NIDA WASIF ROLL # 54 MC-B TOPIC; LINEAR PROGRAMMING DATE; 5 JUNE, 14

UNIVERSITY OF CENTRAL PUNJAB

INTRODUCTION TO LINEAR PROGRAMMING

Linear programming (LP; also called linear optimization) is a method to achieve the best outcome (such as maximum profit or lowest cost) in a mathematical model whose requirements are represented by linear relationships. Linear programming is a special case of mathematical programming. It is a mathematical technique used in computer modeling to find the best possible solution in allocating limited resources (energy, materials, machines, money etc) to achieve maximum profit or minimum cost. Linear Programming is a method of expressing and optimizing a business problem with a mathematical model. It is one of the most powerful and widespread business optimization tools. Linear programming can be used in very large variety of business problems. They include: transportation distribution problems production scheduling in oil & gas, manufacturing, chemical, etc industries financial and tax planning human resource planning facility planning fleet scheduling.

LINEAR PROGRAMMING; an optimization technique capable of solving an amazingly large variety of business problems. A business objective, business restrictions, and costs/revenue are formulated into a mathematical model. Algorithms for finding the best solutions are used. The concept behind a linear programming problem is simple. It consists for four basic components:
Decision variables

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