Q109
Linear Programming technique is used to allocate scarce resources in an optimum manner in problems of ______________ ?
A.
Schedule
B.
Product Mix
C.
Both A and B
AnswerD.
Servicing Cost
Answer: Option C
Solution
Answer: Option C
Solution:
Linear Programming technique is used to allocate scarce resources in an optimum manner in problems of Schedule and Product Mix. Linear programming is a mathematical technique for allocating limited resources is optimum manner. In the words of William M. Fox, “Linear programming is a planning technique that permits some objective function to be minimized or maximized within the framework of given situational restrictions.”