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...

This preview shows page 1 out of 1 page.

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..

#### You've reached the end of your free preview.

Want to read the whole page?

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes