Linear Programming theory flashcard

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mathematical modeling technique in which a linear function is maximized or minimized when subjected to various constraints

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Linear Programming

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Linear Programming is also known as

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Linear Optimization

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Who is the Founder/Father of Linear Optimization?

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George Dantzig

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A Linear Programming problem that the decision-makers has to solve for which products to include and in what qualities should be included in the production plan that will help achieve profit maximization

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Product-Mix Problem

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A linear Programming problem that deals with finding the best blend of available raw materials or ingredients that will contribute to cost efficiency and has to meet the specific quality requirement or level of output.

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Blending Problem

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How many components does the Structure of a Linear Programming Problem have?

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8

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A mathematical expression of the relationship between the decision variable and a single goal

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Objective Function

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These are limitations that are expressed in the form of linear inequalities or equalities

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Constraints

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This method is appropriate for small problems dealing with two decision variables and with few constraints.

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Graphical Method

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The two phases in graphical method

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Graphing the feasible area and Optimal Solution