Question: How can I use this information and relate it to integer linear programming? Linear optimization models are the most common optimization models used in organizations
How can I use this information and relate it to integer linear programming?
Linear optimization models are the most common optimization models used in organizations today. Linear optimization models are used in finance, marketing, engineering and other disciplines.
Constructing optimization models is an art form requiring logic because there are several ways to formulate a particular problem. Learning how to construct an optimization model is facilitated by observation and studying examples of different optimization model attributes.
Select an organization or industry other than the one you work for, and illustrate an applied example of a type of linear optimization model, describing unique issues with its formulation and implementation. How might the chosen optimization model provide insight for making a good business decision?
Optimization issues are found everywhere in the real word, specifically in industries and organizations. These issues come up in economics, finance, chemistry, science, physics, engineering, etc. Optimization modeling requires appropriate time. According to Arsham (n.d.), the general procedure that can be used in the process cycle of modeling is to: (1) describe the problem, (2) prescribe a solution, and (3) control the problem by assessing/updating the optimal solution continuously, while changing the parameters and structure of the problem. Linear optimization is useful when you want to minimize your cost. This is the case in the example I read about this week. The company is not listed but the individual is a dietician who is uses linear programming for resource optimization. The example is given that you have several types of resources but you cannot draw any amount of resource because they come in packages. If you need to consume a specific number of carbs, proteins, fats, and vitamins everyday. However, you are only allowed to eat granola bars, beef jerky, chocolate, popcorn, and gummy bears. You want to optimize the nutrition constraints by eating a selected amount of the food but you also want to optimize the cost. If you eat X granola bars, Y pieces of beef jerky, Z chocolate bars and so on, then the amount of carbs can be expressed as a linear function of x,y,z,x,y,z, This would be the same for the other nutrients. Therefore, the constraints are linear inequalities.
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