Discuss the requirements of a linear programming (LP) model. Provide an example of an LP model and define each variable used. What are the key steps that need to be considered when formulating an LP problem?
Victoriano (1990) gave the following insights into linear programming:
Linear Programming can either be minimization or maximization. A minimization or maximization problem can be classified as linear programming if it has the following properties:
1. The objective of the decision-maker must either be to maximize or to minimize.
2. The actions of the decision-maker must be constrained ...
The solution shows the requirements and steps involved in solving Linear Programming (LP) problems. It also provides links to examples of LP model.