Mathematical Programming Approaches

Mathematical programming is one of the most important techniques available for quantitative decision-making. The general purpose of mathematical programming is finding an optimal solution for allocation of limited resources to perform competing activities. The optimality is defined with respect to important performance evaluation criteria, such as cost, time, and profit. Mathematical programming uses a compact mathematical model for describing the problem of concern. The solution is searched among all feasible alternatives. The search is executed in an intelligent manner, allowing the evaluation of problems with a large number of feasible solutions.

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