Mathematical Optimization in Our Daily Lives
Basic mathematical calculations are used in our day to day lives for the purpose of counting and generating statistical summaries. Mathematical optimization techniques help in minimizing future losses and ensure efficient usage of parameters (decision variables). Depending on perspective mathematical optimization can have applications spanning daily routine of an individual to large scale industrial applications.
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Real-Life Applications of Mathematical Optimization
Mathematical Optimization is one of the many branches in mathematics which help us optimize any objective function by systematically analyzing decision variables and constraints to find the most efficient or effective solution. In this article, we will discuss all the relevant application of Mathematical Optimization.
Table of Content
- What is Mathematical Optimization?
- Applications of Mathematical Optimization
- Mathematical Optimization in Our Daily Lives
- Conclusion
- FAQs