a method for finding the maximum or minimum value of a quantity that is subject to various limitations is called
1 answer:
The minimum or maximum value of a quantity are what are used to maximize or minimize a function.
<em>The method for finding these minimum or maximum value is linear programming.</em>
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Take for instance, the following parameters:
Subject to:
The above is an illustration of a linear programming.
It is useful in the following areas:
- To formulate real life problems
- To get an optimal solution
- To maximize profit and minimize cost
- Etc
Read more about linear programming at:
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