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UNIT 2 STUDY MATERIAL - Linear Programming

The document outlines the steps in solving linear programming using the Simplex Method, emphasizing formulation, initialization, optimality testing, pivoting, and updating. It highlights the importance and applications of linear programming in optimizing resources across various industries, such as manufacturing and finance. Additionally, it discusses factors influencing capital equipment replacement and includes topics on duality and sensitivity analysis in linear programming.

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2023pcecshimanshu062
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23 views2 pages

UNIT 2 STUDY MATERIAL - Linear Programming

The document outlines the steps in solving linear programming using the Simplex Method, emphasizing formulation, initialization, optimality testing, pivoting, and updating. It highlights the importance and applications of linear programming in optimizing resources across various industries, such as manufacturing and finance. Additionally, it discusses factors influencing capital equipment replacement and includes topics on duality and sensitivity analysis in linear programming.

Uploaded by

2023pcecshimanshu062
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Steps in Solving Linear Programming with Simplex Method:

 Formulation: Define the objective function and constraints.

 Initialization: Choose an initial feasible solution.

 Optimality Test: Determine if the current solution is optimal.

 Pivoting: Identify entering and leaving variables for improvement.

 Update: Recalculate values until an optimal solution is reached.

 Example: In manufacturing, optimizing production with resource constraints.

2. Importance of Linear Programming:

 Linear Programming is crucial for optimizing resources in decision-making.

 Provides information on the optimal allocation of resources for maximum benefit.

 Example: Allocating budget for advertising to maximize sales.

3. Applications of Linear Programming in Industries:

 Supply chain optimization in logistics.

 Production planning in manufacturing.

 Portfolio optimization in finance.

 Example: Optimizing production schedules in a manufacturing plant.

4. Factors in Capital Equipment Replacement with Time:

 Economic Life: The period the equipment remains economically viable.

 Technological Advancements: Rapid advancements making equipment obsolete.

 Example: Upgrading computer servers to newer models.

Module 3: Linear Programming

1. Applications and Model Formulation:

 Identifying problem structures suitable for linear programming.

 Formulating mathematical models for decision-making.

2. Graphical Method and Simplex Method:

 Graphical representation of linear programming problems.


 Application of the simplex method for optimization.

3. Duality and Sensitivity Analysis:

 Understanding the dual problem in linear programming.

 Analyzing the impact of parameter changes on the optimal solution.

Essay Questions: a. Understanding Level: - Explain the concept of duality in linear programming. How
does it contribute to a better understanding of the problem? - Discuss the importance of sensitivity
analysis in linear programming. Provide examples of situations where sensitivity analysis is crucial.

b. Apply Level: - Formulate a linear programming model for a given practical problem. Illustrate the steps
involved in the formulation process. - Compare and contrast the graphical method and the simplex
method in solving linear programming problems. Provide scenarios where one method might be more
suitable than the other.

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