Question

The first step in formulating an LP problem is
A) graph the problem
B) perform a sensitivity analysis
C) identify the objective and the constraints
D) define the decision variables
E) understand the managerial problem being faced.

Answer 1

Hint: The LP in the question stands for linear programming. We can see its definition and the steps for its formulation. From the observation, we can conclude which amongst the given options will be the very first steps in the formulation of an LP problem

Complete step by step solution:
LP stands for ‘Linear Programming’
A linear equation or a problem subjected to equality or inequality constraints and is subjected to be maximized or minimized is known as linear programming.
We formulate the LP problem as:
We understand what the problem is trying to say and convert the same into equation
For the conversion to equation, we need to find and define the decision variables which are the quantities required to solve the problem.
Then, the set of constraints i.e. limitations to the variables or the relationship amongst them is identified.
We then express the objective function in the form of a linear equation by the analysis called sensitivity analysis.
According to this linear equation obtained, we finally represent it graphically.
An example of a LPP is :
$x + 2y \leqslant 12$
Therefore, the very first step in formulating an LP problem is understand the managerial problem being faced and the correct option is (D)
So, the correct answer is “Option D”.

Note: Linear equation means that the highest degree or power of variables is 1.
Limitations of variables generally means the minimum or maximum value that it can take.
While working with LP, we assume the following points:
Constraints are expressed in quantitative terms, linear relationships exist between constraints and the objective functions.