Introduction
The chapter on linear programming problems states that convenient solution of problems can be obtained with the help of 2 variables. If the number of variables is increased by more than 2, the result of this entire problem becomes very complex or inconvenient. Here comes the limitation of linear programming problems when it is used for resolving complicated issues related to real life circumstances. In these circumstances, you can always find more than 2 variables to increase such complications. To find asolution to such linear programming problems, one can take help of simplexmethod is taken.
Simplex method is an algebraic methodology which uses a series of repetitive operations to achieve the ideal solution. In order to find a solution to any problem, one has to follow numerous steps of this simplex method.
Added to this stated steps, there are a number of constraints and variables with which the solution is found out.This is the case of manual findings of a solution. But if the problem has more than 4 variable, one needs to acquire the help of acomputer to find the resolution.
Developed by American mathematician G. B.Dantzig, this methodology can be utilised to get the result of any problem which has a valid solution. The procedure to reach an ideal solution by following various computational steps and stages which had to be repeated numerous times is known as iterative.
Links of Previous Main Topic:-
- Introduction to accounting and branches of accounting
- Preparation of final accounts
- Introduction of fund flow statement
- Introduction cash flow statement
- Ratio analysis significance of ratio analysis
- Fixed assets and depreciation meaning causes objectives methods and basic factor
- Cost accounting concept objectives advantages limitations general principles and cost sheet
- Job costing
- Introduction process costing
- Activity based costing introduction concept and classification
- Introduction inventory pricing and valuation
- Standard costing introduction
- Management accounting
- Marginal costing
- Relevant cost for decision making
- Budget and budgetary control
- Limitations of historical accounting
- Introduction to responsibility accounting
- Introduction to financial management
- Introduction and types of dividend
- Concept of cost of capital
- 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
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