![]() ![]() State the constraints as combinations of the decision variables.ĥ. State the objective function as a combination of the decision variables.ĥ Steps In Formulating MP Models(continued)Ĥ. Optimization condition that is represented mathematically in the modelġ. Maximize profitMinimize costMinimize distanceMinimize timeĬomponents of LP Problem (Cont.) Constraints Objective Function Describes the goal in terms of the decision How much of a resource to devote to a productWhat investment strategy to use & how longWhat people should do what tasksBorrow money or sell off inventory ![]() NO!Predetermined set of mathematical steps used to solve linear equationsįirst step to solving LP problem is formulation of the modelĭecision Variables Denoted by mathematical symbols that Resource constraints Is LP computer programming? Have a deterministic setup Make decisions using LP methods with Linear Programming (LP): Model Formulation & Graphical ![]()
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