Resumption of Chapter Five

Learning Objectives:

After completing this chapter, you should be able to

Explain what linear programming is$.$

Identify the three key questions to be addressed in formulating any spreadsheet model.

Name and identify the purpose of the four kinds of cells used in linear programming spreadsheet models.

Formulate a basic linear programming model in a spreadsheet from a description of the problem.

Present the algebraic form of a linear programming model from its formulation on a spreadsheet.

Apply the graphical method to solve a two$-$variable linear programming problem.

Use Excel to solve a linear programming spreadsheet model.

The management. of any organization regularly must make decisions about how to allocate its resources to various activities to best meet organizational objectives. Linear programming is a powerful tool for performing prescriptive analytics that aids management in making such decisions. It is applicable to both profit$-$making and not$-$for$-$profit organizations, as well as