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Simplex Method

 
Britannica Concise Encyclopedia: simplex method
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Standard technique in linear programming for solving an optimization problem, typically one involving a function and several constraints expressed as inequalities. The inequalities define a polygonal region (see polygon), and the solution is typically at one of the vertices. The simplex method is a systematic procedure for testing the vertices as possible solutions.

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Accounting Dictionary: Simplex Method
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Technique most commonly used to solve a Linear Programming (LP) problem. It is an algorithm, a step-by-step procedure for moving from corner point to corner point of the feasible region in such a manner that successfully larger (smaller) values of the objective function in a maximization (minimization) problem are obtained at each step. The procedure is guaranteed to yield the optimal solution in a finite number of steps.

 
 

 

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Britannica Concise Encyclopedia. Britannica Concise Encyclopedia. © 2006 Encyclopædia Britannica, Inc. All rights reserved.  Read more
Accounting Dictionary. Dictionary of Accounting Terms. Copyright © 2005 by Barron's Educational Series, Inc. All rights reserved.  Read more