Are Simplex method and Simplex algorithm same? Where do i get some reference about Simplex Algorithm?

Answer 1

They are the same, although there are variations on the simplex method. Wikipedia (link below) has some info, but good luck diciphering it. I have a book from college called Loss Models (Klugman, Panjer, Wilmot) that has some info in the appendix, but you probably don't want to drop the money on the book.

The second site I listed gives more of a conceptualy overview. Basically, you start with an initial guess. Then make several guesses in various directions (if plotting), and take the guess that gets you closest to the answer. Make several more guesses, and continue until your solution is within the tolerance.

Answer 2

http://en.wikipedia.org/wiki/Simplex_algorithm