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Effectiveness of linear programming techniques in decision making process

 Department: Mathematics and Statistics  
 By: usericon kruskalstat  

 Project ID: 2529
   Rating:  (3.3) votes: 6
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This study focused on enlightening business managers in the rural regions on the importance of linear programming techniques in its business practice. Two business settings were examined using the simplex method, assignment, and transportation model. The result of the analysis indicated that 4 units of the square dining table should be made and at such, the required cost of raw materials needed to maximize profit is N34,000, 48 working hours to make an optimal profit of N23,037. The result also indicated that if these optimal values are strictly following the company would be saving herself a total cost of N1753.22 and N239.44 for not producing round tables and N239.44 and chair respectively. The result indicated that the delivery should start at Town A in the morning to minimize cost to N2. It was therefore concluded that the management team of every business enterprise should endeavor to practice the application of statistical methods in influencing their decision making....
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