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What is linear programming?
Linear programming is a mathematical method for optimizing a linear objective function, subject to linear equality and inequality constraints. It is used in business, engineering, and other fields.
Uses of linear programming
- Production planning: Linear programming can be used to determine the optimal production schedule for a factory, given the available resources and demand for products.
- Transportation: Linear programming can be used to determine the optimal route for transporting goods from one location to another, given the cost of transportation and the availability of vehicles.
- Financial planning: Linear programming can be used to determine the optimal portfolio of investments, given the risk and return of different investments.
- Resource allocation: Linear programming can be used to allocate scarce resources, such as budget or time, to different activities in order to maximize the overall benefit.
Why study linear programming?
Studying linear programming is valuable for many different careers.
- Operations research analyst: Operations research analysts use mathematical methods to solve complex problems in business and industry. Linear programming is one of the most important tools that operations research analysts use.
- Financial analyst: Financial analysts use linear programming to develop financial models and to make investment decisions.
- Management consultant: Management consultants help businesses to improve their operations and performance. Linear programming is one of the tools that management consultants use to help businesses make better decisions.
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