Maths Pro 2
Maths Pro 2
GROUP:- MPC
INDEX NO:-
ACKNOWLEDGEMENT
L INEAR PROGRAMMING
PROBLEMS
AIM:-
Characteristics :-
Objectives can be expressed in a standard form.
maximize/minimize(Z)=f(x) where ‘Z’ is the objective
function.
Constraints are capable of being expressed in the
form of equality of inequality like (=k)or(<=k)or(>=k)
where k is a constant, and x>=0. Resources to be
optimized are capable of being quantified in
numerical terms. The variables are linearly related
to each other. More than one solution exist, the
objectives being to select the optimum solutions. The
linear programming technique is based on
simultaneous solutions of linear equations
TERMINOLOGY
• Production Planning:
A company must allocate limited resources
(such as labor, raw materials, and machine
time) to produce different products. The goal is
to maximize profit while adhering to
constraints like production capacity and
demand1.
• Supply Chain Management:
Distributors need to determine the most cost-
effective way to transport goods from suppliers
to consumers. LP helps optimize transportation
routes, minimizing costs while meeting demand
and capacity constraints.
• Resource Allocation:
Airlines allocate flight crew, aircraft, and gates to
maximize revenue while adhering to crew
availability, aircraft maintenance, and airport
capacity constraints.
• Portfolio Optimization:
Investors aim to maximize returns while
managing risk. LP models can allocate funds
across different assets (stocks, bonds, etc.) to
achieve optimal portfolio diversification.
Solution:-
Let
subject to:
Variables
Let
Objective function:-
customer demand
xC >= 3xT
storage space
(xC/4) + xT <= 4
Xt,Xc >= 0
The graphical representation of the problem is given below and from that we
have that the solution lies at the intersection of
https://www.geeksforgeeks.org
https://www.byjus.com
https://www.cuemath.com