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Applications of Linear Programming in Business Decision Making

This paper explores how linear programming is used in business decision-making, offering practical applications and strategies.

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    Applications of Linear Programming in Business Decision Making Discussion 1 What are some business uses of a linear programming model? Provide an example. Linear programming models have many business uses. They can be used to determine likely return on different investments, to maximize profits for a given situation, minimize costs, and even determine how to obtain maximum market exposure. One real world use of a linear programming model is to aid in investment portfolio selections. With the correct data, a linear programming model could be developed. Necessary data would be amount to be invested, forecasted yields on different funds, risk ratings on the different funds (determined by an evaluation of risk tolerance), and a determination of any constraints (such as a minimum dollar amount in a specific type of fund). Once you use your gathered data, you can determine the optimum investment portfolio for your objectives. References Taylor, B. W. (2011). Introduction to management science, (2011 custom Ed.). Boston, MA: Pearson Learning Solutions. | — StudyXY

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