Linear programming is very important in various fields of life especially in managerial decision making. The reason is that it helps the company in minimizing the costs and maximizing the profits. Through linear programming managers can calculate the prices and the sales units which can maximize the profits of the company. Therefore, there are various issues which the company incurs regarding their costs and prices therefore, tools like linear programming can help the managers in decision making progress.
Also good for resource allocation in a company. Helps to determine which product needs most or least resources to maximise profit and minimise costs
- differentiate x3+3x2+x