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The essential ingredients of an lp model

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Reference no: EM13276491

Question 1:

What are some business uses of a linear programming model? Provide an example.

Question 2:

In the graphical method, how do you know when a problem is infeasible, unbounded, or when it has multiple optimal solutions?

What are the essential ingredients of an LP model? Why is it helpful to understand the characteristics of LP models?

Question 3:

Distinguish between a minimization and maximization LP model. How do you know which of these to use for any given problem?

Reference no: EM13276491

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