List and explain the software tools and programming languages commonly employed to solve LP problems, such as Excel's Solver, MATLAB, and specialized optimization libraries.
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Commonly used software tools for solving Linear Programming (LP) problems include Microsoft Excel with the Solver add-in, MATLAB with optimization toolboxes, IBM CPLEX, Gurobi, AMPL, and Lingo. These tools provide optimization capabilities to formulate and solve LP models for various applications, such as resource allocation, production planning, and portfolio optimization. Depending on the problem complexity and user preferences, practitioners choose the most suitable software to find optimal solutions efficiently.
Common software tools for solving linear programming problems include Microsoft Excel (Solver), LINDO/LINGO, IBM ILOG CPLEX, Gurobi, MATLAB, R (lpSolve), Python (PuLP), AMPL, and Google OR-Tools.
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