3. Business Analytics with Linear Programming
Chapter Objectives
• Emphasize the importance of linear programming (LP) as a prescriptive analytics tool
• Provide a general formulation to LP models using mathematical notations
• Demonstrate the use of Excel and Solver for solving LP models with a large number of decision variables and constraints
• Discuss the importance of data preparation techniques and the use of pivot tables to summarize data and refresh data
• Perform sensitivity analysis and understand the impact of the changes in the right-hand side values and contribution coefficients
• Discuss the challenges of implementing LP models in the era of Big Data
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