14.8 Linear Optimization Summary

In this chapter, we covered the basics of formulating and solving simple linear optimisation problems, which help us “prescribe” the best business choices to make.

If you can formulate your real-world problem as a linear optimisation problem, then there are very efficient solvers and algorithms that can solve the problem, and to help you gain further insight into your problem (e.g., via sensitivity analyses).

In the models we’ve covered this chapter, we’ve assumed that all the decision variables are continuous, real-valued numbers.

In the next chapter, we will discuss linear optimisation problems where some of the decision variables have to be integers, as well as when some of the decision variables are binary yes/no decisions.