There are 4 steps which are required in the formulation of linear programming.
- Determining and defining decision variables.
- Describing the definition to minimise or maximise the objective function.
- Ascertaining constraint equations which is required to be demonstrated as equalities or inequalities.
- Either with utilisation of simple or graphical method while expressing an equation, the value of decision variables is required to be found out in order to optimise an objective function.
Links of Previous Main Topic:-
- Capitalization meaning
- Concepts of working capital
- Concept of capital expenditure
- Learning objectives and chapter outline
- Limitations of operations research
- Linear programming learning objectives and outline of chapter
Links of Next Finance Topics:-
- Assumptions for resolving linear programming problems
- Potential applications of linear programming problems
- Introduction learning objectives
- Duality in linear programming
- Learning objectives
- Learning objectives and chapter outline in assignment model
- Minimization problems
- Learning objectives the transportation problems