Unit V LINEAR PROGRAMMING - Unit V Linear Programming Basic concept formulation of a linear programming problem Its structure and variables Nature of

Unit V LINEAR PROGRAMMING - Unit V Linear Programming Basic...

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Unit V: Linear Programming Basic concept, formulation of a linear programming problem Its structure and variables Nature of feasible, basic and optimal solution Solution of linear programming through graphical Formulation of the dual of a programme and its interpretation Concept of duality and statement of duality theorems Concept of a game Strategies simple and mixed Value of a game Saddle point solution Linear programming is a mathematical method for determining a way to achieve the best outcome (such as maximum profit or lowest cost) in a given mathematical model for some list of requirements represented as linear relationships. More formally, linear programming is a technique for the optimization of a linear objective function, subject to linear equality and linear inequality constraints. Uses Used to solve a variety of problems in commerce, industry and management To achieve the best allocation of available resources like money, raw materials, labor hours, machine hours, productive capacity etc.. Achieve optimal goals in profit maximization and cost minimization Solve problems related to product mix, capital investment, transportation, production smoothening etc..
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