Mikailalsys Journal of Mathematics and Statistics
Vol 1 No 1 (2023): Mikailalsys Journal of Mathematics and Statistics

Business Insights Unveiled: A Journey through Linear Programming Problems

Jha, Aditya (Unknown)
Sahani, Suresh Kumar (Unknown)
Jha, Anshuman (Unknown)
Sahani, Kameshwar (Unknown)



Article Info

Publish Date
22 Oct 2023

Abstract

This project delves into the world of linear programming problems (LPP), a powerful optimization technique. It delves into the historical background, key features, fundamental assumptions, and wide-ranging applications of LPP. It also explores two hypothetical case studies: one in investment portfolio optimization and the other in advertisement budget allocation. LPP serves as a guiding light in making strategic investment decisions by maximizing returns and minimizing risks. In the context of advertising, it enables efficient budget allocation to reach the maximum audience and achieve the highest impact within constraints. The project emphasizes how LP simplifies complex decision-making processes, highlighting its practicality and relevance across diverse sectors. In essence, linear programming emerges as an indispensable tool for informed, data-driven decision-making, much like a skilled navigator guiding a ship through challenging waters toward its destination.

Copyrights © 2023






Journal Info

Abbrev

MJMS

Publisher

Subject

Engineering Mathematics Mechanical Engineering

Description

The journal contains scientific articles covering topics such as mathematical theory, statistical methods, the application of mathematics in various disciplines, and statistical data analysis. The primary objective of this journal is to promote a better understanding of mathematical and statistical ...