Linear programming, Managerial Accounting

Assignment Help:

Linear Programming
   
This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured from the simplex method goes beyond determining the optimum values of the variables. Indeed, it provides important economic interpretations of the problem and shows how sensitivity analyses can be carried out algebraically.

The simplex method solves linear programming in iterations where the same computational steps are repeated a number of times before the optimum are reached.

The Standard Form of the LP Model:

An LP model may include constraints of the types ≤, =, and ≥. Moreover, the variables may be non-negative or unrestricted in sign.  In order to develop a general solution method, the LP problem must be put in a common format, which we call the standard form. The properties of the standard LP form are:

1) All constraints are the equations with non-negative right-hand side.
2) All the variables are non-negative.
3) The objective function might be maximization or minimization.


Related Discussions:- Linear programming

Define the balanced score card, Define the Balanced Score Card? 1. Dist...

Define the Balanced Score Card? 1. Distinguish between standard control and budgetary costing. 2. Define the ‘Balanced Score Card? Explain the steps in implementing ‘Balance

Advantages of value added statements, Advantages of Value Added Statements ...

Advantages of Value Added Statements 1) Managers might be in a better position to control their organizations own inputs than the cost and usage efficiency of purchased materia

Cash budget, hi how do we find a schedule of expected cash collections

hi how do we find a schedule of expected cash collections

What are the assumptions underlying the cvp analysis, Assumptions Underlyin...

Assumptions Underlying the CVP Analysis CVP analysis as discussed above is based on certain assumptions . if these assumptions are not recognized then serious error may result

Operating leverage, How do you compare two companies operating leverage? Mu...

How do you compare two companies operating leverage? Must the sales volume be set the same or the net operating income?

Compute the expected return and risk of a portfolio, Compute the Expected R...

Compute the Expected Return and Risk of a Portfolio? The subsequent data are presented to you as a portfolio manager Security Expected Return

Describe committed fixed costs, Describe Committed fixed costs Committ...

Describe Committed fixed costs Committed fixed costs are those fixed costs that arise from the possession of 1. Plant, building and equipment (for example, depreciation, re

What are the objectives of intra company transfer pricing, What are the Obj...

What are the Objectives of Intra company transfer pricing The objectives of Intra company transfer pricing are: 1) Evolution of performance and efficiency of each division.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd