Question

How does linear programming help in decision making ?

Answer 1

Hint: The term “ programming “ means planning and it refers to a particular plan of action from amongst several alternatives for maximizing profit or minimizing cost etc . Programming problems deal with determining optimal allocation of limited resources to meet the given objectives such as least cost , maximum profit , highest margin or least time .

Complete step-by-step answer:
Formerly , linear programming deals with the optimization ( maximization or minimization ) of a linear function of a number of variables subject to a number of conditions on the variables , in the form of linear inequalities or equations variables involved . Linear programming is a mathematical technique which determines the best way to use available resources. Managers use this process to help in making decisions about the most efficient use of limited resources – like money , time , materials , and machinery .

In linear programming we use equations and inequalities we use objects as variables . then solve the equations to get desirable results . We can use different methods to solve equations . One of the methods is graphically , which is quite efficient in linear solving . When you have a problem which involves a variety of resource constraints then , linear programming can generate the best possible solution .

Note: The inequalities are called constraint and the function to be maximized or minimized is called the objective function which can be of maximization type or minimization type . The set of values of the decision variables which satisfy the constraints of a linear programming problem ( LPP ) is called a solution of LPP .