June 2006
Beginner
793 pages
20h 59m
English
Content preview from Quantitative Techniques: Theory and Problems
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STEP INVOLVED IN THE FORMULATION OF LP PROBLEM
The steps involved in the formation of linear programming problem are as follows:
| Step 1→ | Identify the Decision Variables of interest to the decision maker and express them as x1, x2, x3……… |
| Step 2→ | Ascertain the Objective of the decision maker whether he wants to minimize or to maximize. |
| Step 3→ | Ascertain the cost (in case of minimization problem) or the profit (in case of maximization problem) per unit of each of the decision variables. |
| Step 4→ | Ascertain the constraints representing the maximum availability or minimum commitment or equality and represent them as less than or equal to (≤) type inequality or greater than or equal to (≥) type inequality or 'equal to' (=) type equality respectively. ... |
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