1. INFM 718A / LBSC 705 Information For Decision Making
Lecture 3

2. Overview Introduction to Linear Programming Building LP models
Solving LP models:
Geometric Solution
Excel (Solver) Solution

3. Linear Programming
Decision models that involve decision variables whose feasible values are bounded by a set of constraints, aiming to maximize utility/profit, or minimize loss/cost.

4. Modeling LP Problems What are the decision variables?
What is the goal (max./min.)?
Maximize/Minimize what?
What are the constraints?

5. An Example