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From Linear to Nonlinear Optimization with Business Applications - IFORS Education Resources

From Linear to Nonlinear Optimization with Business Applications

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(Created page with 'The proposed solution algorithm has nice features: * It should prove useful for an introduction to mathematical programming before introducing more advanced topics. * It…')
 
 
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The proposed solution algorithm has nice features:
 
The proposed solution algorithm has nice features:
  
    * It should prove useful for an introduction to mathematical programming before introducing more advanced topics.
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* It should prove useful for an introduction to mathematical programming before introducing more advanced topics.
    * It is a general purpose solution algorithm, that is, one treatment for all linearly constraints optimization problems.
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* It is a general purpose solution algorithm, that is, one treatment for all linearly constraints optimization problems.
    * Unlike other general purpose solution methods, such as KKT conditions, it guarantees global optimal solution.
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* Unlike other general purpose solution methods, such as KKT conditions, it guarantees global optimal solution.
    * It is intuitively simple to be understood by non-mathematical major students and the managers.
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* It is intuitively simple to be understood by non-mathematical major students and the managers.
    * The prerequisite to understand the concepts, is minimal, it is assumed that the students are familiar with elementary calculus such finding the critical points of a given function.
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* The prerequisite to understand the concepts, is minimal, it is assumed that the students are familiar with elementary calculus such finding the critical points of a given function.
    * It provides useful information such all critical points which in turn, provides upper and lower tight bounds on the objective function over the feasible region.
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* It provides useful information such all critical points which in turn, provides upper and lower tight bounds on the objective function over the feasible region.
    * It provides useful managerial information such as sensitivity analysis and its applications to tolerance analysis.
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* It provides useful managerial information such as sensitivity analysis and its applications to tolerance analysis.
    * Since, there are many optimization problems with simply given postulated known solutions, the proposed solution algorithm is an effective tool for both, verifying the postulated known solution(s) or finding the best solution(s).  
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* Since, there are many optimization problems with simply given postulated known solutions, the proposed solution algorithm is an effective tool for both, verifying the postulated known solution(s) or finding the best solution(s).  
  
 
Link to full article: http://home.ubalt.edu/ntsbarsh/Business-stat/opre/nonlinear.htm
 
Link to full article: http://home.ubalt.edu/ntsbarsh/Business-stat/opre/nonlinear.htm

Latest revision as of 19:06, 21 February 2011

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