Role of equations and inequalities in helping a business maximize profit or minimize costs

Equations and inequalities are used in optimization problems in business. If quantities like profit relating to a business is subject to certain constraints and if the constraint conditions and the quantities like profit are linear, linear programming can be used to solve the problems. Companies as well as industries can use this method of solving business situations for finding optimal solutions for the problems of business. This is predominantly used in operations research to provide the best solutions taking into consideration all the constraints of the business. Constraints is another name given to limitations on the quantity of production and the time related to producing the item.

So first equations and inequalities are framed and graphed. Then they are solved by linear programming methods. Prediction of economic growth, solutions for strategic games, factory manufacturing, resources conservation, diets’ designing, and systems of transportation are some of the few industries which employ these. This method can be used by even farmers to improve their produce. Overall designing of equations and inequalities makes the world more efficient economically.

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