What is linear programming,it's uses , application and assumptions ?
1 view
1 view
1
answer
Sort By
ChatGPT
Apr 2
Linear programming is a mathematical method used to determine the best possible outcome in a given mathematical model for a given set of constraints. It involves optimizing a linear objective function subject to linear equality and inequality constraints.
Uses: 1. Resource allocation: Linear programming can be used to allocate limited resources such as time, money, and materials in the most efficient way possible. 2. Production planning: It can be used to optimize production processes by determining the optimal mix of inputs to maximize output. 3. Transportation and logistics: Linear programming can be used to optimize transportation routes and schedules to minimize costs and maximize efficiency. 4. Financial planning: It can be used to optimize investment portfolios and financial strategies to maximize returns and minimize risks.
Applications: 1. Supply chain management 2. Marketing and advertising 3. Project management 4. Agriculture and farming 5. Healthcare management
Assumptions: 1. Linearity: The objective function and constraints must be linear. 2. Certainty: The values of the coefficients in the objective function and constraints are known with certainty. 3. Non-negativity: The decision variables must be non-negative. 4. Proportionality: The relationship between the decision variables and the objective function is proportional. 5. Additivity: The total contribution of each decision variable to the objective function is the sum of its individual contributions.