Maximization of a linear function be effective for a company

Reference no: EM133469434

Discussion

Linear programming is a mathematical modeling technique in which a linear function is maximized or minimized when subjected to various constraints. Linear programming is often used when seeking the optimal solution to a problem, given a set of constraints. To find the optimum result, real-life problems are translated into mathematical models to conceptualize linear inequalities and their constraints better.

How can minimization and maximization of a linear function be effective for a company?
Using at least a business as a basis, show how this can help the company achieve its goal of profitability.

Reference no: EM133469434

Questions Cloud

Calculate the new level of nominal gdp : The central bank is increasing the money supply by 7% each year. How much will the nominal GDP and the price level increase annually as a result?

Describe what caused the financial crisis of 2007-2009 : What caused the Financial Crisis of 2007-2009. Briefly indicate the several factors that helped the severity of the downturn during Great Financial Recession.

What is fundamental reason behind the study of economics : What is the fundamental reason behind the study of Economics? Can you state it in one word?

Types of economic systems used in the united states : Types of economic systems used in the United States. How economic systems vary between the U.S., China, and Russia.

Maximization of a linear function be effective for a company : How can minimization and maximization of a linear function be effective for a company?

Identify the market power of kelloggs : Using the Herfindahl-Hirschman Index located in this week's readings, identify the market power of Kellogg's and General Mills for breakfast cereal.

What is the formula for gdp : What is the formula for GDP? What cycle is the economy when at it's peak? In a trough?

Introduced the oncepts of the apc and aps : Have you experienced any changes to your APC and APS over the past year as a result of the higher rates of inflation currently being reported?

How have institutions evolved in botswana and zimbabwe : Broadly speaking, how have institutions evolved in Botswana and Zimbabwe? What impact did their respective institutions have on their long-term growth?

User Account

All Pages