Page 1 1 Linear and Integer Programming Models Chapter 2 Page 2 1 Linear and Integer Programming Models Chapter 2 2 • A Linear Programming model seeks to maximize or minimize a linear function, subject to a set of linear constraints. • The linear model consists of the following components: – A set of decision variables. – An objective function. – A set of constraints. 2.1 Introduction to Linear Programming Page 3 1 Linear and Integer Programming Models Chapter 2 2 • A Linear Programming model seeks to maximize or minimize a linear function, subject to a set of linear constraints. • The linear model consists of the following components: – A set of decision variables. – An objective function. – A set of constraints. 2.1 Introduction to Linear Programming 3 Introduction to Linear Programming • The Importance of Linear Programming – Many real world problems lend themselves to linear programming modeling. – Many real world problems can be approximated by linear models. – There are well-known successful applications in: • Manufacturing • Marketing • Finance (investment) • Advertising • Agriculture Page 4 1 Linear and Integer Programming Models Chapter 2 2 • A Linear Programming model seeks to maximize or minimize a linear function, subject to a set of linear constraints. • The linear model consists of the following components: – A set of decision variables. – An objective function. – A set of constraints. 2.1 Introduction to Linear Programming 3 Introduction to Linear Programming • The Importance of Linear Programming – Many real world problems lend themselves to linear programming modeling. – Many real world problems can be approximated by linear models. – There are well-known successful applications in: • Manufacturing • Marketing • Finance (investment) • Advertising • Agriculture 4 • The Importance of Linear Programming – There are efficient solution techniques that solve linear programming models. – The output generated from linear programming packages provides useful “what if” analysis. Introduction to Linear Programming Page 5 1 Linear and Integer Programming Models Chapter 2 2 • A Linear Programming model seeks to maximize or minimize a linear function, subject to a set of linear constraints. • The linear model consists of the following components: – A set of decision variables. – An objective function. – A set of constraints. 2.1 Introduction to Linear Programming 3 Introduction to Linear Programming • The Importance of Linear Programming – Many real world problems lend themselves to linear programming modeling. – Many real world problems can be approximated by linear models. – There are well-known successful applications in: • Manufacturing • Marketing • Finance (investment) • Advertising • Agriculture 4 • The Importance of Linear Programming – There are efficient solution techniques that solve linear programming models. – The output generated from linear programming packages provides useful “what if” analysis. Introduction to Linear Programming 5 Introduction to Linear Programming • Assumptions of the linear programming model – The parameter values are known with certainty. – The objective function and constraints exhibit constant returns to scale. – There are no interactions between the decision variables (the additivity assumption). – The Continuity assumption: Variables can take on any value within a given feasible range.Read More

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