In the course, various quantitative models were studied that serve as support in managerial decision-making, either in situations of certainty or uncertainty. This work proposes that the student can apply one of the methods studied, delving into its use and application.

Following the train of thought, use this information to complete the format.

Quantitative Method: Linear Programming

I have decided to select the linear programming method as the quantitative method for my final project. The reason for my selection is based on my personal interest and previous experience with this method. I have always been intrigued by optimization problems and the ability of linear programming to provide solutions to such problems. Also, I previously worked on a project that used linear programming to optimize resource allocation, which further sparked my interest in this method. Linear programming is a mathematical technique used to determine the optimal solution to an optimization problem. It involves minimizing or maximizing a linear objective function subject to linear constraints. Linear programming has a wide range of applications in various fields such as economics, operations research, and engineering. It is often used in resource allocation problems, such as determining the optimal levels of production of different products with limited resources.

Linear programming has several limitations that must also be considered when applying the method. One of the main limitations is that it assumes linearity, which means that the relationship between the variables and the objective function must be linear. This assumption may not hold in some real-world situations, leading to inaccurate results. Another limitation is that linear programming models can become very complex and difficult to solve as the number of variables and constraints increases. In such cases, specialized software or computational resources may be required to resolve the issue. Despite these limitations, linear programming remains a popular and powerful tool for solving optimization problems in a variety of fields. Its versatility and ability to model complex problems make it a valuable resource for organizations looking to streamline their operations and reduce costs. By applying linear programming to a transportation problem for my final project, I hope to gain a deeper understanding of the method and its practical applications. This project will also allow me to develop my problem-solving and analytical skills, which are valuable assets in many professional contexts.

According to Gupta and Sharma (2018), the benefits of linear programming include the ability to model complex problems with multiple constraints and variables, the ability to optimize solutions, and the ability to provide sensitivity analysis to determine the impact of changes to the problem. . Also, linear programming has specific situations that it is used for, such as transportation problems, diet problems, and production planning problems. To carry out the application of the method, I plan to obtain data from a transport company that needs to determine the optimal routes for its delivery trucks. The company has provided me with information on the origin and destination of each delivery, the capacity of each truck, and the cost of traveling between each location. I will use this data to doing linear programming model that will determine the optimal routes for delivery trucks to minimize the total cost of transportation.

To conclude, linear programming is a powerful tool that can be used to solve optimization problems. It has a wide range of applications and benefits, including the ability to model complex problems and optimize solutions. For my final project, I will apply linear programming to a transportation problem, using data from a real-world company. The information provided by Gupta and Sharma (2018) and other scholarly sources will be used to support my arguments and ensure that the project is completed with the correct format and citation style.

Format and Instructions

Executive Summary Present a summary of your work with the main findings and conclusions. (No more than one page)

Introduction Background and Statement of the Problem

Establish the possible situations that managers may face in making decisions in situations of certainty and uncertainty and how this situation may affect the company's operations. Use other authors to support your arguments.

Questions

What are the questions that will guide your investigation of the selected method.

Justification

Why is it necessary to do the research? Use other authors to support your arguments.

Report Body Literature Review (Brief)

Apart from the authors that you use to expose the data related to the selected method; include at least two investigations that have been conducted of the method you are investigating. Share the purpose, methodology, findings and results of these.

Data

This part is where you apply the selected method. Present and/or explain the following:

Describe the data used and where you got it from. (if it was from some source or if they are modeling a hypothetical real scenario)

Findings and Results. (Calculation sheet and interpretation)

It will depend on the selected method.

Conclusions and recommendations No less than three paragraphs

Bibliography It must include at least 5 academic sources, formats and must be cited in accordance with current APA regulations.