Spreadsheet Modeling & Decision Analysis: A Practical Introduction To Business Analytics, Loose-leaf Version
8th Edition
ISBN: 9781337274852
Author: Ragsdale, Cliff
Publisher: South-Western College Pub
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Chapter 6, Problem 1QP
Summary Introduction
To explain: The difference in solving LPs and ILPs.
Expert Solution & Answer
Explanation of Solution
Linear programming:
In LP problems, the optimal solutions can be any of the intersecting points of constraints in the graph within the feasible region. The optimal solution cannot be present elsewhere in the feasible region except the extreme intersection points thus making it somewhat straightforward to find the optimal solution.
When it comes to ILP problems, the optimal solution can be present at the extreme points created by the intersecting constraint in the feasible while also can be present anywhere in the feasible region. Therefore, there can be many numbers of optimal solutions for the problem. Hence, ILPs are much harder to solve than LPs.
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Spreadsheet Modeling & Decision Analysis: A Practical Introduction To Business Analytics, Loose-leaf Version
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