Question

The development of linear programming is perhaps among the most important scientific advances of the mid-20th century. Today, it is one of the standard tools that has saved many millions of dollars for most companies and enterprises.

Identify at least two reasons for the importance of linear programming in an enterprise of your choice and describe the impact that linear programming has had in that enterprise in recent decades. Provide a specific example of a linear programming model related to the enterprise that you have selected and interpret the slack variables of your example. Describe how the information obtained about the slack variables of your example can be used by the decision-making sector of that enterprise. (You do not have to write a mathematical formulation of your example. Simply mention the objective, the decision variables, and a few possible constraints to describe your model example).

Answer 1

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