The question delves into resource allocation using LP. The answer should provide a hypothetical scenario and guide the reader through formulating and solving an LP problem to optimize resource allocation.
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Linear programming can be applied to optimize resource allocation by mathematically modeling the objective and constraints of a problem. For example, consider a manufacturing company aiming to maximize profit by allocating resources among different product lines. Steps involve formulating the objective function (e.g., maximizing profit), defining constraints (e.g., limited labor hours, material availability), setting up decision variables (allocation amounts), and using a solver like the simplex algorithm to find the optimal solution that maximizes profit while satisfying constraints.
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