Linear Programming Problem(L.P.P.

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Introduction
Many business & economic situations are concerned with a problem of planning activity. In each case, there are limited resources at your disposal & your problem is to make such a use of these resources so as to yield the maximum production or to minimize the cost of production, or to give the maximum profit, etc. Such problems are referred to as the problems of constrained optimization.

 It(L.P.P.) is the composition of three words. Linear stands for indicating that all relationships involved in a particular problem are linear. Programming It is just another word for planning & refers to the process of determining a particular plan of action from amongst several alternatives. Problem Hence Linear Programming is a technique for determining an optimum schedule of interdependent activities in view of the available resources.

Important terms in L.P.P.

Feasible Solution-Any solution to a GLPP which satisfies the non-negative restrictions of the problem, is called as a feasible solution to the GLPP. Optimum solution-Any feasible solution which optimizes (maximises / minimizes) the objective function of a GLPP is called an optimum or optimal solution to the GLPP. Slack & Surplus VariablesSlack=Requirement-Production Surplus=production-Requirement Standard Form of LPP

BASIC ASSUMPTIONS IN L.P.P.

1.Linearity: The objective function and constraints must be expressed in linear inequalities. 2.Deterministic:The coefficient of decision variable in objective function and constraints expression would be finite and known. 3.Divisibility: The decision variable can be any nonnegative value including fractions. 4. Certainty -- The model assumes that the responses to the values of the variables are exactly equal to the responses represented by the coefficients.

Mathematical Formulation of L.P.P.

A manufacturer produces two types of models M1 &M2.Each M1 requires 4 hrs of grinding & 2 hrs of polishing; whereas each M2 model requires 2 hrs of grinding & 5 hrs of polishing. The manufacturer has 2 grinders & 3 polishers. Each grinder works for 40 hrs a week & each polisher works for 60 hrs a week. Profit on an M1 model is Rs 3 & on an M2 model is Rs 4.Whatever is produced in a week is sold in the market. How should the manufacturer allocate his production capacity to the two types of models so that he may make the maximum profit in a week.