Solve the Following LP Problem Graphically by Enumerating the Corner

question 43

Essay

Solve the following LP problem graphically by enumerating the corner points.
MIN: ^{8 X}₁ ^{+ 5 X}₂
Subject to: ^{6 X}₁ ^{+ 7 X}₂ ^{≥ 84}
X₁ ≥ 4
X₂ ≥ 6 X₁,X₂ ≥ 0

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Definitions:

Fraud

Fraud is a deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Standard of Care

The degree of attention, caution, and prudence that a reasonable person in a particular situation would reasonably be expected to exercise.

Auditing Standards

The set of guidelines and criteria established for auditors to follow when conducting financial audits.

Good Faith

An honest intention to act without taking an unfair advantage over another party usually within a contractual context.