What is Mathematical Optimization?
Mathematical optimization, also known as mathematical programming, is a branch of mathematics and computer science that deals with finding the best solution from a set of feasible solutions.
Mathematical optimization involves the process of maximizing or minimizing a function, often referred to as the objective function, while satisfying a set of constraints. Optimization problems are broadly categorized as continuous or discrete based on the nature of decision variables. The utilization of objective function in an optimization problem is subject to the domain being studied.
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