Explore BrainMass
Share

What are some examples of personal or professional decisions where constrained optimization might be applied?

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

What are some examples of personal or professional decisions where constrained optimization might be applied? You don't have to formulate the mathematical problem, just discuss what the decision variables would be, how would you measure success (i.e., what would you maximize or minimize), and what conditions might the decision variables need to satisfy for the decisions to be considered feasible.

© BrainMass Inc. brainmass.com October 24, 2018, 9:17 pm ad1c9bdddf
https://brainmass.com/math/linear-programming/122533

Solution Preview

Please see the attached file.

Abstract
In mathematics, linear programming problems are optimization problems in which the objective function and the constraints are all linear. The model was developed during the second world war by a number of researchers. Linear programming is heavily used in many different fields, either to maximize the income or minimize the costs of a production scheme.

Standard form
Standard form is the usual and most intuitive form of describing a linear programming problem. It consists of the following three parts:
- A linear function to be maximized
maximize
- Problem constraints of the following form
- Non-negative variables

The problem is usually expressed in matrix form, and then becomes:
maximize
subject to

Other forms, such as minimization problems, problems with constraints on alternative forms, as well as problems involving negative variables can always be ...

Solution Summary

The solution provides detailed explanation of the origin of linear programming and the idea behind it with two examples in 656 words.

$2.19
See Also This Related BrainMass Solution

Change Management and System Thinking

Systems Thinking and Change Management

a. Evaluate systems thinking and the application of systems logic as essential considerations in managerial decision making. Explain how to incorporate systems thinking when developing a project. In thinking about future change management projects, how would you apply the systems approach to manage effective change?

b. Evaluate the various stakeholder interests and resource constraints faced when developing a project. What strategies could be employed to balance these different interests and constraints?

c. Access the impact of technology on effective managerial decision making, and explain how new technologies drive change. How do the technologies chosen for the project influence the change plan developed?

d. Analyze the evolving role of ethics and corporate responsibility in the management of organizational change and transition. What ethical issues arose as you developed the project, and how did you deal with them?

I need some outside ideas to address these questions. Business examples would be appreciated. Please include references.

Thank you.

View Full Posting Details