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3 cards from this section. Quick, good the night before a test.
Define a maximization problem with an example.
Think about profit, output, and sales.
What does a minimization problem focus on?
Consider company expenses and costs.
What is the main goal of a maximization problem?
Think about business goals!
True or False: All linear programming problems must have non-negative decision variables.
Consider the conditions of these variables.
Consider a bakery that produces cakes and cookies. They make a profit of $5 per cake and $2 per cookie. Given constraints of 100 units of flour and 80 units of sugar for production, formulate a maximization problem to determine how many cakes and cookies should be produced.
Identify your constraints carefully!
A transportation company wishes to minimize its shipping costs along two routes, which cost $300 and $450 respectively. They have constraints in terms of delivery capacity of 5 and 3 vehicles. Formulate the problem and solve for the minimum cost.
Consider how each variable represents costs and how to minimize!
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