Concept explainers
Explanation of Solution
Formulation of LP:
Where,
The formulation of problem is more like, transportation problem. Here, sources at one end and demand at the other. Here, source is the amount of dollars, pounds, marks and yen and at the beginning of the day and demand is the amount want at the end of the day. With variable
Requirement Constraints:
Here, it is required 6 Billion Pounds, 1 Billion pounds and 8 Billion marks.
Supply Constraints:
At the start of the day, there are 8 Billion dollars, 1 Billion pounds and 8 Billion marks. So,
Demand constraints:
While converting from one currency to another, it need to keep account of the conversion rate
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Chapter 3 Solutions
Operations Research : Applications and Algorithms
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