Linear Programming Models Flashcards

Flashcards on Linear Programming Models

Linear programming (LP)

Mathematical modeling technique for resource allocation and product mix problems.

Objective function

Maximize or minimize some quantity such as profit or cost.

Constraints

Restrictions or limitations on available resources.

Key assumptions of LP

Proportionality, divisibility, certainty, and nonnegative variables.

Steps in formulating an LP problem

Identify the objective and constraints, define decision variables, and write mathematical expressions.

Corner point and isoprofit line methods

Graphically solving LP problems with two variables.

Feasible region

The region where all constraints are simultaneously satisfied.

Isoprofit line

A line representing all possible combinations of decision variables that yield the same profit.

Corner point method

Evaluate the objective function at corner points of the feasible region to find the optimal solution.

Slack

The amount of a resource that is not used in a less-than-or-equal-to constraint.

Surplus

The amount by which the right-hand side of a greater-than-or-equal-to constraint is exceeded.

Infeasibility

No solution satisfies all the constraints.

Unboundedness

The objective function can be made infinitely large without violating any constraints.

Redundant constraint

A constraint that does not affect the feasible solution region.

Alternate optimal solutions

Two or more optimal solutions exist.

Sensitivity analysis

Analyzing how sensitive a deterministic solution is to changes in the model's assumptions.