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Steps of Linear Programming:
1) Define Symbols:
We define symbols for all the limited resources and in the exam we have at least two limiting factors to which we have to definitely give symbols to.2) Formulate Equations for Constraints:
We formulate equations for all the Limiting Factors (i.e. constraints);3) Formulate Objective Function:
We formulate equation for our objective which is to maximize contribution4) Draw the graph:
We plot the points of all the constraints in the graph5) Optimum Plan:
We calculate number of units of both products using elimination method and calculate maximum contribution earned on those unitsIs it also correct that all the products given in the Linear Programming questions are always with limiting factors; I mean we will not be given a product without a limiting factor in exam questions?
Sir, am I correct about the steps and their explanations?
I go through the steps one by one in my free lectures on linear programming.
Have you actually watched the lectures?1, We do not give symbols to the limiting factors. We give symbols to the products of which there will be only two (and to the objective, which is normally the total contribution).
2 and 3 are correct.
4. You cannot be asked to draw the graph in the exam, but you can be asked to interpret a graph that is provided in the exam.
5. For the optimum plan we find the corner on the graph at which the contribution line is furthest away from the origin. We calculate the number of units at the point using simple algebra on simultaneous equations.
There will always be limiting factors. If a product did not have a limiting factor (even if it was just the maximum demand) then we would produce an infinite amount which would be completely unrealistic.
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