What are some real-world problems where linear programming can be applied?
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Manufacturing: Optimizing production schedules to maximize profit or minimize costs given resource constraints.
Transportation: Determining the most efficient shipping routes and methods to minimize transportation costs.
Finance: Portfolio optimization to maximize returns while minimizing risk.
Dietary Planning: Formulating the most cost-effective diet that meets nutritional requirements.
Telecommunications: Allocating bandwidth to optimize network performance while adhering to limits.