Difference between revisions of "MA 265 Spring 2010 Walther Week 5" - Rhea

Latest revision as of 06:46, 26 July 2010

Find out what "linear programming is" and discuss one problem that "linear programming" is capable of solving.

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-A:  Linear Programming is mathematical model that is used to optimize a linear objective function.  An example of how this type of optimization is used for is Microeconomics.  It is used to maximize profit while minimizing resources used and cost.  This allows companies to use a broad overview of a economic situation to best find a profitable solution.
-Max Kagan
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-Linear programming is a mathematical technique frequently used in economics. It is used to find the maximum or minimum of linear functions. An example would be a calculator company producing graphing & scientific calculators, with constraints on the amount produced daily.  The company must also factor in the demand for each type of calculator per day, and also the minimum amount of calculators that can be shipped in one shipping.  Linear programming can be used to solve problems like this.
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