USING MATHEMATICS TO SOLVE REAL WORLD PROBLEMS Abstract In this paper, to study the applications of Linear Programming( The BIG M Method ) in Business problems. First we mention construct the Linear Programming Model ( LP Model ). Secondly, Slack variables, Surplus Variables, Artificial Variables and Modified Problem. Then by using the BIG M Method to solve the maximization and minimization of real life Business Problems. Key Words : Linear Programming ( L P ), The Big M Method 1 ...
Mathematical Economics Practice Problems and Solutions – Second Edition – G. Stolyarov II MatheMatical econoMics Practice ProbleMs and solutions Second Edition G. Stolyarov II, ASA, ACAS, MAAA, CPCU, ARe, ARC, API, AIS, AIE, AIAF First Edition Published in March-April 2008 Second Edition Published in July 2014 Note: Here, I will present solve problems typical of those offered in a mathematical economics or advanced microeconomics course. The problems were originally compiled by Dr. Charles N. Steele and are reprinted with his ...
International Journal of Scientific & Engineering Research, Volume 7, Issue 9, September-2016 134 ISSN 2229-5518 Solving Linear Programming Problems and Transportation Problems using Excel Solver Ezeokwelume Obinna Vincent Abstract- This paper outlines the steps required for installing Excel Solver in Microsoft Word 2010 for use in solving linear programming problems it provides a step-by-step procedure with snapshots for improved performance. Several questions are solved including transportation problems using Excel Solver. Index Terms- Excel Solver, linear programming, maximization, minimization, optimization ...
Lecture 6 Linear programming : Artificial variable technique : Big - M method 6.1 Computational Procedure of Big – M Method (Charne’s Penalty Method) Step 1 – Express the problem in the standard form. Step 2 – Add non-negative artificial variable to the left side of each of the equations corresponding to the constraints of the type ‘≥’ or ‘=’. When artificial variables are added, it causes violation of the corresponding constraints. This difficulty is ...
An Introduction to Linear Programming Linear Programming Problem Problem Formulation A Maximization Problem Graphical Solution Procedure Extreme Points and the Optimal Solution Computer Solutions A Minimization Problem Special Cases Linear Programming Applications Linear Programming (LP) Problem The maximizationor minimization of some quantity is the objective in all linear programming problems. All LP problems have constraints that limit the degree to which the objective can be pursued. A feasible solution satisfies all the problem's constraints. An optimal solution is a ...
2 Linear Programming 2.1 INTRODUCTION Linear programming was developed in 1947 by George B. Dantzig, Marshal Wood and their associates. It deals with the optimization (maximization or minimization) of a function of variables, known as objective functions. It is a set of linear equalities/inequalities known as constraint. Basically, linear programming is a mathematical technique, which involves the allocations of limited resources in an optimal manner on the basis of a given criterion of optimality. Linear programming is an optimization ...
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