Introduction to Optimization Models

Case Analysis

We refer to a model that uses mathematical programming to find an optimal amount as an optimization model. Thus, an optimization model of an evaluation model differs in that it goes beyond the mere evaluation of the impacts of the proposed alternatives: It is actually identifies the “best” alternative. How does an optimization model to achieve this formidable task? In this age of readily available computing power and ever more user-friendly software, it is possible to build and use optimization … Read more »

We refer to a model that uses mathematical programming to find an optimal amount as an optimization model. Thus, an optimization model of an evaluation model differs in that it goes beyond the mere evaluation of the impacts of the proposed alternatives: It is actually identifies the “best” alternative. How does an optimization model to achieve this formidable task? In this age of readily available computing power and ever more user-friendly software, it is possible to build and use optimization models without a detailed understanding of mathematics that are the answer to this question is based. To really take advantage of this ability, however, it is necessary to have a basic understanding of some key concepts. The primary objective of this note is to introduce these concepts. This note is very pragmatic, the companion paper “The Mathematics of Optimization” (UV4309) explores the deeper mathematical foundations of concepts and is for the user to explore the motivation and mathematical background the subject further developed
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Robert I Carraway
39 pages.
Release Date: 29 March 2010. Prod #: UV4308-PDF-ENG
Introduction to Optimization Models HBR case solution