Linear Programming Problem (LPP)
Many business and economic activities are concerned with the problem of planning. If the supply of the resources are unlimited, the need for linear programming problems would not arise at all. In each case, limited resources are available, and to make use of this resource, programming and planning problems could be formulated to maximise/minimise a linear form of profit/cost function whose variables are restricted to values satisfying a system of linear constraints (a set of linear equations/or inequations). The term ‘programming’ refers to the process of determining a plan of action. Linear programming is a technique for determining an optimum schedule of independent activities in view of the ...