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The document describes linear programming, which is a mathematical approach for finding the optimal solution to problems involving constraints. It provides examples of linear programming problems involving determining the optimal product mix or quantities that maximize profit or minimize costs while satisfying constraints like resource or time limitations. The examples involve defining decision variables, objective functions, constraints, and formulating the problems as linear programming models to determine the optimal solution.
The document describes linear programming, which is a mathematical approach for finding the optimal solution to problems involving constraints. It provides examples of linear programming problems involving determining the optimal product mix or quantities that maximize profit or minimize costs while satisfying constraints like resource or time limitations. The examples involve defining decision variables, objective functions, constraints, and formulating the problems as linear programming models to determine the optimal solution.
The document describes linear programming, which is a mathematical approach for finding the optimal solution to problems involving constraints. It provides examples of linear programming problems involving determining the optimal product mix or quantities that maximize profit or minimize costs while satisfying constraints like resource or time limitations. The examples involve defining decision variables, objective functions, constraints, and formulating the problems as linear programming models to determine the optimal solution.
Dhanbad Optimization? • Finding out the best option – Selected based on some objective criteria – Say for example, maximizing the final return as NPV, profitability etc.; maximizing the success factor; minimizing the risk involved in the project; • Among a set of alternatives • Under certain restrictions/constraints – Limitation of resources (fund, skilled manpower) – Time schedule – Government policies – Competitor’s strategy • Mathematical approach – Decision Variables – Objective function – Constraints Prof Sandeep Mondal, DMS, IIT(ISM), Dhanbad Some concepts • Decision Variables • Parameters. • Objective: expressed as a function called objective function. • Constraints/Limitations • Non-negativity constraints
Prof Sandeep Mondal, DMS, IIT(ISM),
Dhanbad An example • A company manufactures two types of spindles – A & B. • Each spindle requires processing in Cutting, Turning and Drilling. • The processing time per unit of A on Cutting is 5 min, Turning is 5 min and Drilling is 2 minutes. • The processing time per unit of B on Cutting is 10 min, Turning is 4 min and Drilling is 3 minutes. • The maximum number of machine-minutes available per day on Power Hacksaw, Lathe and Drill machines are 60, 40 and 30, respectively. • The profit per unit of selling A and B are Rs 6 and Rs 8, respectively. To find the optimal number of A and B to be manufactured per day
Prof Sandeep Mondal, DMS, IIT(ISM),
Dhanbad Formulation of a LP problem Decision Variables x1 = Number of units of A to be manufactured x2 = Number of units of B to be manufactured Objective : Maximization of the profit Total Profit, z = 6x1 + 8x2 Constraints 5x1 + 10x2 ≤ 60 5x1 + 4x2 ≤ 40 2x1 + 3x2 ≤ 30 Non-negativity Constraints x1 and x2 ≥ 0 Prof Sandeep Mondal, DMS, IIT(ISM), Dhanbad Ex-1: Product Mix
• You make three kinds of computers: Cheap, Good, and Deluxe.
These sell for Rs 15000, Rs 20000, and Rs 24000. • The Cheap model requires 3 hours for circuit board installation and 1 hour to fit the peripheral equipment. The Good model requires 1 hour for circuit boards and 5 hours for peripherals. The deluxe model requires 3 hours for circuit boards and 2 hours for peripherals. • You have 120 hours available for circuit board work and 60 hours for fitting peripherals. • Determine how much of each kind of computers you should make to maximize your revenue.
Prof Sandeep Mondal, DMS, IIT(ISM),
Dhanbad Ex-2 A person X requires that all the food she/he eats come from one of the four ”basic food groups”: butter, bread, orange juice and ham. She/he wants to prepare breakfast only from these foods. Each scoop of butter costs Rs 5, each slice (piece) of bread costs Rs 2, each bottle of orange juice costs Rs 3, and each piece (slice) of ham costs Rs 8. Each day X must ingest at least 500 calories, 6 oz of sugar, 10 oz of carbohydrates, and 8 oz of fat. The nutritional content per unit of each food is shown in the following table. Formulate a linear programming model that satisfies the daily nutritional requirements of person X at minimum cost
Prof Sandeep Mondal, DMS, IIT(ISM),
Dhanbad Ex-3 A Food company is developing a low-calorie high-protein diet supplement called Hi-Pro. The specifications for Hi-Pro have been established by a panel of medical experts. These specifications along with the calorie, protein and vitamin content of three basic foods, are given in the following table: Formulate this problem as an linear programming model to minimize cost of serving.
Nutritional elements Units of Nutritional Elements (per Basic Foods Hi-Pro
100 gm. Serving of Basic Foods) specifications 1 2 3 Calories 350 250 200 300 Proteins 250 300 150 200 Vitamin A 100 150 75 100 Vitamin C 75 125 150 100 Cost per serving (Rs.) 1.50 2.00 1.20 Prof Sandeep Mondal, DMS, IIT(ISM), Dhanbad Ex 4 You make decorative stones for landscaping. A ton of coarse stones requires 2 hours of crushing, 5 hours of sifting, and 8 hours of drying. A ton of fine stones requires 6 hours of crushing, 3 hours of sifting, and 2 hours of drying. The coarse stones sell for Rs 400 per ton. The fine stones sell for Rs 500 per ton. In a work week your plant is capable of 36 hours of crushing, 30 hours of sifting, and 40 hours of drying. Use the graphical method first, to answer the below. Determine: a. How much of each kind of stones you should make to maximize your revenue. b. How much revenue you'll make at the maximum. c. Find the slack for each constraints. Prof Sandeep Mondal, DMS, IIT(ISM), Dhanbad