Unit 1 - INTRODUCTION TO OPTIMIZATION ALGORITHMS Video Chapters: Optimization Techniques 00:00 Introduction 02:39 Optimization Statement 05:27 Constrained Optimization Problems 06:06 Constrained Optimization Methods 07:38 Transportation Problem 14:40 Unconstrained Optimization Problems 20:15 Conclusion 1. What is Optimization? Optimization is the process of finding the best solution or set of solutions from a range of possible options, with the aim of maximizing or minimizing a particular objective function. The objective function is a mathematical expression that represents the quantity to be optimized, such as maximizing profit, minimizing cost, or achieving the highest performance. There are two main types of optimization problems: Maximization Problems: These involve finding the maximum value of an objective function. Examples : maximizing profit, revenue, efficiency, or any other desirable outcome. Minimization Problems: These involve ...
