STAT 203 Lecture Notes - Lecture 4: Linear Programming, Carpentry, Lincoln Near-Earth Asteroid Research
Document Summary
Linear programming is a model consisting of linear relationships representing a firm"s decision(s) given an objective and resource constraints. Decision variables are mathematical symbols representing levels of activity. The objective function is a linear relationship reflecting the objective of an operation. A constraint is a linear relationship representing a restriction on decision making. Example 1: the humber furniture company produces inexpensive tables and chairs. The production process for each is similar in that both require a certain number of labour hours in the carpentry department and a certain number of labour hours in the painting department. Each table takes 4 hours of carpentry work and 2 hours of painting work. Each chair requires 3 hours in carpentry and 1 hour in painting. During the current production period, 240 hours of carpentry time and 100 hours of painting time are available. The marketing personnel are confident that they can sell all tables that they made.
