Lecture 5
Lecture 5
Data Management:
Example: a firm sells a product at a price of $30, it takes $ 10 to produce the product.
What is the mathematical model that compute the total profit?
Linear Programming
1. A constraint is a linear relationship representing a restriction on a decision
making.
2. Variable is a symbol used to represent an item that can take on any value.
4. Parameters are known, constant values that are often coefficients of the
variables in equations.
•Subject to
•Sign restrictions
Different forms of LP
•The min version –standard form
•Canonical form
•Max version
Example 5-2
• The shipping costs from any quarry to any project are as follows: