Dive into the fundamentals of linear programming in this 28-minute tutorial video. Learn how to solve manufacturing problems using linear algebra and graphing methods to maximize contribution margin within given constraints. Explore the process of listing parameters, decision variables, and creating a mathematical model with objective and constraint functions. Master the technique of graphing linear inequalities and identifying the feasible region and vertices to determine optimal solutions. Gain practical skills in applying linear programming concepts to real-world business analytics scenarios using basic tools like algebra, pencil, and paper.
Basic Excel Business Analytics - Intro to Linear Programming Using Algebra, Pencil & Paper
ExcelIsFun via YouTube
Overview
Syllabus
) Intro To Linear Programming.
) Use Liner Algebra and the Graphing Method on paper to solve Manufacturing problem where we try to maximize contribution Margin give a set of constraints..
) List parameters (Formula Inputs) and Decision Variables.
) List Math Model: Objective Function and Constraint Functions: All are Linear Equations/Inequalities..
) Graph Linear Inequalities..
) Feasible Region and vertices (extreme points) will yield our Optimal Solution..
) Summary.
Taught by
ExcelIsFun
