linear programming

linear programming
LP A method for the optimal allocation of scarce resources to alternative activities. The aim of the decision-making process (termed the "objective function") and related constraints are expressed in mathematical terms, and may be plotted graphically in simple scenarios. Typical objective functions include the maximizing of *income and the minimizing of *costs. Linear programming, as its name suggests, is applicable only in contexts where the relationships between elements under consideration are linear in nature.

Auditor's dictionary. 2014.

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