Unformatted text preview: as cost, time, and inconvenience. Cost minimization is a usual goal of the production department of a firm. For example, a production department manager wishes to find the least cost combination of input materials in order to make a finished product. Linear programming (lp) models may be formulated in the format of either profit maximization or cost minimization. A linear programming (LP) problem is called a standard maximization problem if: • We are to find the maximum (not minimum) value of the objective function. • All the variables x, y, z, . .. are constrained to be nonnegative. • All further constraints have the form Ax + By + Cz + . . . N (and not ) with N nonnegative....
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 Spring '11
 Dralexander
 Equations, Inequalities, Optimization, objective function, department manager, maximization LP model

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