What Are the Steps Involved in Linear Programming?
The typical steps in a linear programming model are: 1. Define the Objective Function: Clearly articulate what needs to be optimized. 2. Identify Decision Variables: Determine the variables that will affect the objective function. 3. Formulate the Constraints: Establish the limitations or requirements that must be adhered to. 4. Develop the Linear Programming Model: Combine the objective function, decision variables, and constraints into a mathematical model. 5. Solve the Model: Use computational methods or software to find the optimal solution. 6. Interpret the Results: Analyze the solution in the context of the business problem to make informed decisions.