Linear Programming Problem (LPP)
Advantages and Disadvantages of Linear Programming Problem (LPP)
Advantages and disadvantages of Linear Programming Problem (LPP) are as follows: 1. It assists in making the best use of manpower and … […]
Operations Research
Linear Programming Problem (LPP)
Characteristics of Linear Programming Problem (LPP)
The characteristics of linear programming problem (LPP) are as follows: (1) Decision Variable, (2) Objective function, (3) Constraints, … […]
Linear Programming Problem (LPP)
Aims and Objectives of Linear Programming Problem (LPP)
Aims and Objectives of Linear Programming Problem (LPP): The linear programming problem’s main goal is to find the optimal solution. The aims and objectives of the Linear Programming Problem (LPP) are as follows: 1. The […]
Linear Programming Problem (LPP)
Meaning of Linear Programming Problem (LPP)
Linear Programming is a decision-making technique under the given constraints under the condition that the relationship among […]
Linear Programming Problem (LPP)
Introduction / Definition of Linear Programming Problem (LPP)
Introduction & Definition of Linear Programming Problem (LPP): In linear programming, we formulate our real-life problem into a mathematical model. It involves an objective function, linear inequalities with subject to constraints (s.t.). The technique of linear […]
Mathpedia
Approaches and Phases of Operation Research in Decision Making
This step includes activities like conferences, site visit, research, observation etc. These activities give sufficient information and support to define the problem. […]
Mathpedia
Limitations of Operations Research in Decision Making
O.R. techniques provide a solution only when all the elements related to a problem can be quantified. Factors that cannot be quantified find no place in O.R. models. […]
Mathpedia
Advantages of OR Approach in Decision-Making / Role (Importance) of OR in Decision-Making
The advantages of OR study approach in business and management decision making may be classified as follows… […]
Mathpedia
Decision Theory / Decision Making in Operations Research
The decisions are taken simply by common sense, judgment and expertise without using any mathematical or any other model in simple situations. […]
Mathpedia
Characteristics / Features of a Good Model in Operation Research
It should express the relations and interrelations of action and reaction of cause and effect in operational situations. […]