I have to make a power presentation on the application of linear?
Indeed you just have to ask and the universe has abundance to offer you. You must be thinking what am I talking about, so I would like thank you for asking the question and would like to inform you that, last week I did my assignment on the same topic. So lets get started. The process of choosing between two or more possible alternative courses of action in order to achieve a given objective is known as decision making. A decision is reached at the end of the procedure. Decision making is a systematic process and can be simply described by the following steps: a) Defining the problem. b) Searching for alternative courses of action. c) Evaluating the alternatives. d) Selecting one alternative. This is just one of many possibilities how to approach the problem. Linear Programming you asked is one of management science's most well-known tools used for optimization problem. Using this method, the task is primarily defined as maximizing (minimizing) a linear function while adhering to a set of linear constraints. The word linear indicates that all mathematical relationships in a model are linear. The typical model consists of the set of linear equations and/or inequalities (called constraints) and the linear objective function (which is to be maximized or minimized). The nonnegativity constraints (variables are zero or positive) are mostly involved in the model. The managers goal is to find the optimal solution with the best value of the objective function. In many real-life situations, linear programming methods are utilized often and successfully. The important issue that managers must consider throughout the modelling process is the simplification of the complex reality. Linear programming model formulation is an art that may be mastered with practice and experience. Despite the fact that each problem is unique, many problems have some characteristics and fall into the same category. Applications: Production Process Models Blending Problems Marketing Research Portfolio Selection Problem Cutting Stock Problem Transportation Problem Assignment Problem For detailed applications I am attaching the link of my drive consists of my assignment and the material. Applications starts at page no. 29 Hope this will help you to prepare your presentation. I will be waiting for the feedback. Cheers.