Discuss the differences and similarities between graphical and simplex method of solving Linear Programming problems.
Differences between graphical and simplex methods:
(1) Graphical method can be used only when two variables are in model; simplex can handle any dimensions.
(2) Graphical method must evaluate all corner points (if the corner point method is used); simplex checks a lesser number of corners.
(3) Simplex method can be automated and computerized.
(4) Simplex method involves use of surplus, slack, and artificial variables but provides useful economic data as a by-product.
(1) Both methods find the optimal solution at a corner point.
(2) Both methods require a feasible region and the same problem structure, that is, objective function and constraints. The graphical method is preferable when the problem has two variables and only two or three constraints (and when no computer is availableDOWNLOAD SOLUTION HERE