ITM 501 Lecture 6: ITM501 Lecture 6

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 501
• Professor: Amir Gandomi

Document Summary

Linear programming lp widelyusedmathematicalmodelingtechnique planning 7decisionmakingrelative to resourceallocation. 7 i requrements of a linear programming problem. A mathematicalstatementofthe goalofthe organization statedasthe intent to maximice or to minimize some importantquantitysuchas profits or costs. 2 one or more constraints limitthedegree towhichwecanpursueourobjective egdecisionon howmanyunits ofeachproduct in afirms productlineto manufacture is restricted by available personel 7machinery we want to maximise a quantity objectivefunction subject tolimitedresources. 4 objective function 4constraints arelinear proportionately 3 divisibly must beexpressed in termsof linearequations or inequalities only in the 1stdegree x eg if production of 1unittakes 3 hours productionof 10unitswouldtake30hours eg additively thetotal of allactivities equalsthesum of the individualactivities. 5 certainty numbers in theobjective 3constraintsare known w certainty 7dontchangeduringperiodbeingstudied. 7 all answers variables are nonnegative profitcan be agave. 2 or moreproducts are producedusinglimitedresources maximiseprofit basedon theprofit contributionperunitof eachproduct. 14 2 emo ye too ox so prom. Only workswhenthere arejust2 decisionvariables not possible toplot a solution formore than 2 variables provides insights into howotherapproaches work.