Linear programming simplex method lecture notes and solved examples
What is Linear programming (LP) method ? Linear programming refers to a technique for choosing the best alternative from a set of feasible alternatives whereby the objective function and constraints are expressed as linear mathematical functions. Requirements of Linear programming Problems. i) There should be a clearly identifiable objective which is measured quantitatively. ii) The activities to be included should be distinctly identifiable and measurable in quantitative terms. iii) The resources of the system should be identifiable and measurable quantitatively and also in limited supply. iv) The relationships representing objective function and the constraints equations or inequalities must be linear in nature. v) There should be a series of feasible alternative courses of action available to the decision maker, which are determined by the resource constraints. What are Business applications of li...