Question

Why does a linear programming model require an objective function and constraints? Why do we need to do sensitivity analysis in solving a linear optimization problem?

Answer 1

Linear programming deals with the optimization( maximization or minimization) of a function of variables known as objective function.

for example A manufacturet produces two types of soaps M1 and M2 . and suppose profit of M1 is 2 doller and profit on M2 is 4 doller .

and we have given restriction inequality for production of both type of soap, which called constraints,(which may be raw material)

then our aim is that to optimize our profit by the best utilization of limited resoures under constraints conditions.

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Sensitivity Analysis--Sensitivity Analysis helps to produce the optimal solution of simple perturbations for the key parameters.

Generally,these scenarios crop up as an result of parameter changes due to the involvement of new advanced technologies and the accessibilitu of well organized latest informayion for key (input) parameters or the 'what-if' questions.