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LP has turned to be a highly useful tool of analysis in development planning. But its efficiency is restricted due to;
It is not easy to define a specific objectives function.
Even the objectives function is defined; it may not be easy to find out various social, institutional, financial
and other constraints which may restrict in pursing the given objectives.
Given a specific objective and set of constraints, it is possible that constraints may not be directly expansible as linear inequalities.It is difficult to estimates various constant coefficient that enter into a LP problem.
LP is based upon relative relations between input and output. This means that input and output are additive, multiplicative and divisible. But the relation between input and output are not always linear. Most of relations are non-linear.Perfect competition is not found practically.LP is based upon CRS but in real life there is either IRS or DRS.
It is highly mathematical a complicated techniques. Particularly simplex method involves a large number of mathematical
calculations.
Most of LP models are based upon trial and error solutions and it is difficult to find out really optimal solutions to various economic problems.
So all these limitation are based upon the economic problems.
Answered by Philip Locot
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Advantages and limitations of linear programming as a managerial decision making model?
It takes out the personal angle in decision making.
What is the difference between linear programming and nonlinear programming?
LPP deals with solving problems which are linear . ex: simlpex method, big m method, revised simplex, dual simplex. NLPP deals with non linear equations ex: newton's method, powells method, steepest decent method
Benefits of linear programming?
Linear programming, especially in economics is vital for being able to make accurate estimates of goods output, costs and stock levels needed to carry out certain tasks. It is best to assume that the conditions do not change drastically.
What are the advantages and dis advantages of flowol?
Flowol offers several advantages, including user-friendly interface and visual programming, making it accessible for beginners to understand control systems. It also supports various educational outcomes in teaching programming and electronics. However, its limitations include a relatively narrow focus on basic concepts, which may not adequately prepare users for more advanced programming environments. Additionally, it may lack some functionalities found in more sophisticated programming tools, potentially hindering more complex project development.
What are the limitations of IC analysis?
IC analysis, or Integrated Circuit analysis, has several limitations, including its reliance on idealized models that may not account for real-world variations in temperature, voltage, and manufacturing tolerances. Additionally, it can become complex and computationally intensive for large circuits, making it challenging to analyze in practical scenarios. Furthermore, IC analysis often assumes linear behavior, which may not accurately represent non-linear components, leading to potential inaccuracies in predictions. Lastly, it may not adequately address electromagnetic interference and other external factors affecting circuit performance.
Advantages and limitations of linear programming as a managerial decision making model?
It takes out the personal angle in decision making.
What do you understand by linear programming?
1. What do you understand by Linear Programming Problem? What are the requirements of Linear Programming Problem? What are the basic assumptions of Linear Programming Problem?
What do you understand by linear programming problem?
1. What do you understand by Linear Programming Problem? What are the requirements of Linear Programming Problem? What are the basic assumptions of Linear Programming Problem?
Define linear programming?
necessity of linear programming on organization.
What is the significance of duality theory of linear programming Describe the general rules for writing the dual of a linear programming problem?
the significance of duality theory of linear programming
What are the essential characteristics of linear programming problem?
essential attributes of linear programming models and its uses
What is the difference between linear and integer programming?
Integer programming is a method of mathematical programming that restricts some or all of the variables to integers. A subset of Integer programming is Linear programming. This is a form of mathematical programming which seeks to find the best outcome in such a way that the requirements are linear relationships.
What are the components of linear programming?
A linear objective function and linear constraints.
What has the author Toshinori Munakata written?
Toshinori Munakata has written: 'Matrices and linear programming with applications' -- subject(s): Linear programming, Matrices 'Solutions manual for Matrices and linear programming'
What are the scope of linear programming?
Linear programming can be used to solve problems requiring the optimisation (maximum or minimum) of a linear objective function when the variables are subject to a linear constraints.
What has the author Howard Karloff written?
Howard Karloff has written: 'Linear programming' -- subject(s): Linear programming
What are the components of programming?
A linear objective function and linear constraints.
