111 midterm
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1
Deterministic
assume everything is known exactly
2
Stochastic
explicitly model the possibility of random results based on probability distributions
3
descriptive
sets of equation with data and initial conditions that describe the evolution of a phenomenon
4
prescriptive
set of equations/inequalities to help in decision making
5
3 areas/fields where LP and related optimization techniques are commonly used
- Manufacturing Field - minimizing the cost of production for varioys goods
- Engineering Field - minimizing time it takes to transport resources to build site
- Food/agricultural field - maximizing profit by specific land allocation
6
3 common rules for modeling
- identify a real world problem
- model the real world problem as a math program
- implement a solution method/algorithm to solve the model formulation
7
what are the 4 components of a math program
- objective - mathematical function
- decision variables
- constraints - mathematical functions
- parameters/data
8
what makes a math program a linear program
the presence of an objective function and constraints
9
what are the different types of possible solutions to a linear program
- infeasible
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