Introduction to Optimization Models: General Formulations and Business Modeling
Abstract
This chapter introduces and shows the main concepts related to optimization models, focusing especially on the modeling of linear programming problems. First of all, we identify the main elements contained in a linear programming model. The general formulation of a linear programming model is then described, as well as the standard and canonical forms. The hypotheses of a linear programming model are also presented. Finally, several business problems are modeled by linear programming.
Keywords
Optimization models; Linear programming; General formulation; Standard form; Canonical form; Business modeling
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