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prepare a report on the subsequent and describe what it means when a LP is used to optimize an outcome and its two properties.

As a senior manager for Company A that is a shipping company, you are accountable for transporting cargo in the most efficient way possible. Numerous optimizing tools are available for decision making and you have been presented with data from a linear programming (LP) model that portrays the most efficient distribution routes possible. Company A is hoping to expand its operations as well as a small group of investors is visiting next week. You are tasked with the duty of describeing how Company A uses this information from a linear programming model to optimize its shipping.

prepare a report suggested length of 2-3 pages for the visiting investors that presume they have no prior understanding of transportation linear programming in which you do the following-

Describe what it means when a linear programming (LP) model is used to optimize an outcome.

  1. Define at least one situation where managers would utilize the LP model.
  2. Describe the two properties all LP problems have in common.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923401

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