After completing this chapter, you should be able to:
- Explain what is meant by the terms constrained optimization and linear programming List the components and the assumptions of linear programming and briefly explain each.
- Name and describe at least three successful applications of linear programming.
- Identify the type of problems that can be solved using linear programming.
- Formulate simple linear programming models.
- Identify LP problems that are amenable to graphical solutions.
- Explain these terms: optimal solution, feasible solution space, corner point, redundant constraint slack, and surplus.
- Solve two-variable LP problems graphically and interpret your answers.
- Identify problems that have multiple solutions, problems that have no feasible solutions, unbounded problems, and problems with redundant constraints.