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Mastering Linear Programming: A Comprehensive Guide for Statistics Students

In the study of statistics, linear programming is a fundamental concept that plays an important part in the process of decision-making, as well as optimization and the distribution of available resources. As a student of statistics, delving into the complexities of linear programming can signi...

2023-05-30
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Also called linear optimization, linear programming is a modeling technique used to achieve optimal outcomes in a mathematical model, giving several constraints. An objective function is used to find the optimum (maximum or minimum) value. The method is helpful in informing quantitative decisions in business settings, engineering, and social sciences, to mention a few.
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