Question

Explain the following terms: optimization, objective function, optimal solution, constraint, constraint function, feasible solution, and binding constraint.

Answer 1

Answer:-

The objective function

The objective function of every LP issue is communicated as far as decison factors to upgrade the rule of optimality, for example, profit,cost ,income, separation .as a rule structure it is spoken to as

Optimization(maximize or minimize) z=cx1+c2x2+...+cn where Z is the proportion of execution variable which functionof x1,x2,...xn Quantities c1,c2,...cn are the parameters that speak to the commitment of a unit of the particular factors x1,x2,...xn to proportion of execution Z.The optimal estimation of the given objective is acquired by the graphical or simplex strategy.

Optimal solution :

An ideal solution is supposed to be an elective solution or approach that best fits the circumstance. It helps in utilizing assets in a best and effective way, thereby yielding the most elevated and most ideal returns.

The constraint:

There are consistently sure limitaions on the utilization of assets eg:labour,raw materials, space,money that limit the degreee to which objective can be acheived such constraints must be communicated as direct equities and disparities regarding choice factors . the solution of a LP must satsify these constraints.

The feasible solution:

The arrangement of estimations of choice variablez xj(j=1,2,.....n)that fulfill all the constrsints and non - antagonism states of aobjective function LP issue all the while is said to consitute the feasible solution to that LP probelm.

Binding constraint:

A constraint is binding when theLHS and RHS of the constraints are equivalent at the ideal solution other savvy its is non-binding constraint.

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